Biosimilar developer Alvotech and Fuji Pharma have entered into a partnership agreement for the commercialization of Alvotech’s entire pipeline of biosimilars in Japan, the companies announced this week.
Biosimilar developer Alvotech and Fuji Pharma have entered into a partnership agreement for the commercialization of Alvotech’s entire pipeline of biosimilars in Japan, the companies announced this week.
Under the agreement, Alvotech will be responsible for the development and supply of biosimilars, while Fuji Pharma will be responsible for filing the products with Japan’s regulatory agency as well as the commercialization of the approved biosimilars. Alvotech’s biosimilar pipeline includes therapies in various disease states, such as oncology, ophthalmology, and autoimmune diseases.
“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,” said Rasmus Rojkjaer, CEO of Alvotech.
The partnership also allows Fuji Pharma the opportunity to invest in Alvotech’s capital structure in an effort to “establish a long-term relationship.” Additionally, through the agreement, Alvotech will gain access to Japan’s biosimilars market, which is expected to grow at a compound annual growth rate of 35% over the next few years.
“Together we will ensure that patients in Japan will get high quality biosimilars, while reducing the cost burden on the aging Japanese society. Fuji Pharma’s strong market reach in Japan, complemented with Alvotech’s futuristic portfolio of the expected first-to-launch biosimilar products, will provide the critical synergies for the success of this partnership,” said Eiji Takamasa, Fuji Pharma’s president and CEO.
In Japan, there are 7 biosimilars currently approved, including 1 insulin glargine. Of the remaining products, 3 are biosimilar filgrastim products (of which 1 is developed by Fuji Pharma), 1 is a biosimilar infliximab, 1 is a biosimilar somatropin, and 1 is a biosimilar epoetin alfa.
HHS Praises Biosimilars Savings but Opportunities to Reduce Part B Spending Remain
November 28th 2023Although biosimilars have already generated savings for Medicare Part B programs and beneficiaries, opportunities for substantial reductions in spending remain, according to a report from the HHS.
Biosimilar Business Roundup for October 2023—Podcast Edition
November 5th 2023On this episode, we discuss the biggest news to come out of October 2023, including 3 regulatory approvals, 2 complete response letters, and new data and industry insights that have the potential to impact the entire US biosimilar industry.
Eye on Pharma: Adalimumab Updates; New Eylea Biosimilar Lawsuit; Canada Gains Stelara Biosimilar
November 22nd 2023Several companies make moves to further their adalimumab biosimilars, Regeneron sues Celltrion over biosimilar for Eylea (aflibercept), and Health Canada grants marketing authorization for biosimilar referencing Stelara (ustekinumab).
Biosimilars Business Roundup For August 2023—Podcast Edition
September 5th 2023On this episode, we’re giving an overview of some of the biggest stories in the business space regarding biosimilars, like the approval of the first neurology biosimilar, growth projections from company quarterly expense reports, and some analyses about the health of the market.
AMCP Nexus: Panelists Share Current Scope of Biosimilar Industry
October 26th 2023Panelists at the Academy of Managed Care Pharmacy (AMCP) Nexus meeting chronicled the current state of the US biosimilar market, including current policies impacting the market, recent regulatory decisions, and the developing arguments around requirements for clinical efficacy studies.
Report: Conflicting Guidelines, Rebate Walls Are Major Factors Determining Biosimilar Uptake
October 24th 2023Samsung Bioepis’ most recent biosimilar market report identified inconsistent medical guidelines, challenges with access and rebates, and acute vs chronic treatment duration as major factors influencing biosimilar uptake in the United States.