Eye on Pharma: Alvotech and Kamada Team Up to Commercialize Biosimilars in Israel
Israel-based Kamada Ltd announced this week that it has entered into an agreement with Iceland-based Alvotech to commercialize 6 biosimilar products in Israel once the products gain local regulatory approval.
Israel-based Kamada Ltd announced this week that it has entered into an agreement with Iceland-based Alvotech to commercialize 6 biosimilar products in Israel once the products gain local regulatory approval.
Among the products that will be sold by Kamada is PF708, a teriparatide biosimilar that was also recently approved in the United States—as a follow-on product—and that is licensed to Pfenex. Alvotech’s sister company, Alvogen, will be Pfenex’s US commercialization partner, per an October announcement from the drug makers.
In the Israeli market, an additional 5 undisclosed products are expected to be launched between 2023 and 2025.
The current market for the reference products of the 6 biosimilars covered by the agreement is estimated to be $125 million to $150 million per year in Israel, and based on anticipated market penetration and price competition after biosimilar introduction, Kamada estimates that it will be able to achieve sales of $20 million to $30 million per year.
“Our partnership with Alvotech will leverage our existing commercial infrastructure in Israel and enable Kamada to benefit from the long-term growth potential of the emerging class of biosimilar drugs,” said Amir London, chief executive officer (CEO) of Kamada, in a statement announcing the deal.
Mark Levick, CEO of Alvotech, added, “We are delighted to establish this important partnership with Kamada, who is an ideal commercial partner in Israel. Together, we will provide patients with better access to high-quality and cost-effective biosimilar medicines.”
This latest deal follows shortly after Alvotech formed several additional partnerships; in November, the drug maker announced that it has entered into an exclusive partnership with Germany-based Stada to commercialize 7 biosimilars—including autoimmune, oncology, ophthalmology, and inflammatory disease therapies—in Europe. In September, it announced a contract manufacturing partnership with Singapore’s Prestige Biopharma. Finally, in April, it announced a deal with Fuji Pharma to sell a biosimilar ustekinumab in Japan.
