Israel’s Teva Pharmaceutical and Icelandic biopharma Alvotech have entered into an exclusive strategic partnership for the commercialisation in the US of five biosimilar product candidates.
The partnership combines Teva’s long-standing commercial presence and extensive infrastructure in the US market with Alvotech’s scientific experience and state-of-the-art biologics manufacturing.
The initial pipeline contains biosimilar candidates addressing multiple therapeutic areas.
Under the agreement, Alvotech will be responsible for the development, registration and supply of the biosimilars, while Teva will be exclusively commercializing the products in the US.
The originator products of these five candidates currently generate around $35 billion in US sales.
The agreement includes an upfront payment, with subsequent milestone payments over the next several years.
Teva and Alvotech will share profit from the commercialisation of the biosimilars. All other financial terms and product details remain confidential.