Icelandic biotech Alvotech is partnering with Fuji Pharma to commercialise its biosimilar portfolio in Japan.
Alvotech will be responsible for development and supply of multiple high-value biosimilar assets from its current product pipeline, while Fuji Pharma will be responsible for registration and commercialization of these assets in Japan.
Alvotech’s biosimilar portfolio includes products used in advanced therapies of oncology, ophthalmology and autoimmune disease that generated over $32 billion in global sales in 2017.
The partnership has been made with a view to establishing a long-term relationship that also gives Fuji Pharma the opportunity to invest in Alvotech’s capital structure.
The partnership sees Alvotech gain access to Japan’s fast-growing biosimilars market, forecasted to grow as much as 35% CAGR over the next years.
Fuji Pharma will use its strong local expertise as it goes about commercialising Alvotech’s portfolio.
Rasmus Rojkjaer, Alvotech’s CEO, said: “We strongly believe that in combining Alvotech’s significant manufacturing capacity and high value biosimilars portfolio with Fuji Pharma’s deep market experience, we will together be staking a place as leaders in Japan’s rapidly growing biosimilars market.”