ADVANZ PHARMA has entered into an exclusive agreement with Alvotech for the exclusive license and supply rights for a proposed biosimilar to Xolair (omalizumab).
Alvotech will be responsible for the development and commercial supply and ADVANZ will be responsible for registration and commercialisation in the European Economic Area, the UK, Switzerland, Canada, Australia, and New Zealand.
“This collaboration is an important next step in ADVANZ’s ambition to be a partner of choice for the commercialisation of specialty, hospital, and rare disease medicines in Europe,” said Steffen Wagner, CEO of ADVANZ.
Susanna El-Armale, chief corporate development officer at ADVANZ, stated: “This partnership is in line with our strategy, and highlights our commitment to further strengthen ADVANZ’s pipeline of innovative and value-added medicines to drive growth over the next 5-10 years.”
Omalizumab is used to treat severe persistent allergic asthma, chronic rhinosinusitis with nasal polyps, and chronic spontaneous urticaria. Omalizumab is an established treatment option to decrease the number of asthma attacks (sudden episodes of wheezing, shortness of breath, and trouble breathing) in adults and children six years of age and older with allergic asthma whose symptoms are not controlled with high dose inhaled steroids.
According to IQVIA, the current addressable market for omalizumab is more than US$1bn in the markets in scope of the agreement.