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REYKJAVIK, Iceland and MUMBAI, India, July 29, 2019 /PRNewswire/ -- Biopharmaceutical company Alvotech and Cipla Gulf FZ LLC ("Cipla Gulf"), a wholly-owned subsidiary of the leading global pharmaceutical company Cipla Limited (BSE: 500087) (NSE: CIPLA EQ; hereafter referred to as "Cipla"), today announced that Alvotech and Cipla Gulf have entered into an exclusive partnership for the commercialization of AVT02, an adalimumab biosimilar, in select emerging markets.
AVT02 is a mAb biosimilar to AbbVie's HUMIRA®, which is a leading drug indicated for the treatment of several autoimmune diseases, including (but not limited to) Rheumatoid Arthritis (RA), Ankylosing Spondylitis (AS), Plaque Psoriasis (PP), Psoriatic Arthritis, Ulcerative Colitis (UC), and Crohn's Disease (CD). It neutralizes the Tumor Necrosis Alpha (TNF-α) involved in systemic inflammation and the above-mentioned diseases. AbbVie's HUMIRA® recorded sales of about US$20 billion in 2018, making it the largest-selling blockbuster medicine worldwide.
Under the partnership, Alvotech will be responsible for development and supply of the product, while Cipla Gulf will be responsible for registration and commercialization. Alvotech's AVT02 is in Phase-3 clinical development ahead of filing with the European Medicines Agency (EMA) and United States Food and Drug Administration (USFDA) by early 2020.
Robert Wessman, Alvotech's founder and Chairman said: "We are very proud to announce our strategic alliance with Cipla, a leading global company with over 84 years of history. By partnering with Cipla, Alvotech gains access to Cipla's strong commercial network in select emerging markets and deep market experience, which will ultimately benefit patients who will get better access to high-quality biosimilars."
Nishant Saxena, CEO, International Business (Europe & Emerging Markets), Cipla, said: "This is a significant addition to our portfolio of offerings in the global biosimilars space which includes trastuzumab, bevacizumab, etanercept and pegfilgrastim. Adalimumab is the highest-selling pharmaceutical product in the world and the preferred anti-inflammatory treatment option for several autoimmune diseases. We look forward to partnering with Alvotech and leveraging our own strong commercial strengths and capabilities to make this highly effective treatment option available to patients in several countries."
About Alvotech:
Alvotech is a privately-owned biopharmaceutical company focused on the development and manufacture of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully-integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products.
Alvotech's initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.
About Cipla:
Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Our strengths in the respiratory, anti-retroviral, urology, cardiology and CNS segments are well known. Our 46 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets. Cipla is ranked 3rd largest in pharma in India (IQVIA MAT Mar'19), 3rd largest in the pharma private market in South Africa (IQVIA MAT Mar'19), and is among the most dispensed generic players in the US. For over eight decades, making a difference to patients has inspired every aspect of Cipla's work. Our paradigm-changing offer of a triple anti-retroviral therapy in HIV/AIDS at less than a dollar a day in Africa in 2001 is widely acknowledged as having contributed to bringing inclusiveness, accessibility and affordability to the centre of the movement. A responsible corporate citizen, Cipla's humanitarian approach to healthcare in pursuit of its purpose of 'Caring for Life' and deep-rooted community links wherever it is present make it a partner of choice to global health bodies, peers and all stakeholders. For more, please visit www.cipla.com, or click on Twitter, Facebook, LinkedIn.
Media enquiries, Alvotech:
Halldor Kristmannsson
Corporate Communications
Halldor.kristmannsson@alvotech.com
Corporate Communications, Cipla:
Heena Kanal
E-Mail: CorpComm@cipla.com
Investor Relations, Cipla:
Naveen Bansal
E-Mail: Investor.Relations@cipla.com
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