Alvotech and Dr. Reddy’s Laboratories have unveiled a new license and supply agreement on Tuesday, targeting the commercialization of AVT03, Alvotech’s biosimilar counterpart to Prolia and Xgeva (denosumab).
According to the announcement, this strategic partnership leverages Dr. Reddy’s extensive global commercial footprint and Alvotech’s distinguished expertise in biosimilar development for worldwide markets.
Prolia and Xgeva are prescribed for diverse conditions, such as osteoporosis in postmenopausal women and the mitigation of skeletal complications in adults with advanced cancers.
The delineation of responsibilities within the collaboration stipulates that Alvotech will manage the development and manufacturing processes. Concurrently, Dr. Reddy’s will oversee the registration and commercialization efforts across the pertinent regions. The agreement encompasses an upfront payment to Alvotech, complemented by additional remuneration contingent upon the achievement of specific regulatory and commercial milestones, as well as sales-based compensations.
Furthermore, Dr. Reddy’s holds exclusive commercialization rights in the U.S., with semi-exclusive rights extending to Europe and the UK.
“We are enthusiastic about partnering with Alvotech to introduce this denosumab biosimilar to patients in the U.S., Europe, and the UK. Over the years, we have curated a robust portfolio of biosimilar products that are distributed across several emerging markets. Recently, we launched bevacizumab, our inaugural biosimilar in the UK. This strategic alliance enhances our expanding biosimilar portfolio and propels our biosimilar venture deeper into highly regulated markets. We are eager to utilize our formidable commercial acumen in these regions to ensure that patients gain access to top-tier therapies and cost-effective treatment alternatives,” expressed Erez Israeli, Chief Executive Officer of Dr. Reddy’s, in the announcement.
