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Alvotech Signs Licensing Deal With Lotus Pharmaceutical for Proposed Biosimilars

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Alvotech (ALVO) has signed a licensing and commercialization agreement with Lotus Pharmaceutical for proposed biosimilars to durvalumab and emicizumab in the US and eight selected Asian markets, the company said Friday.

Under the semi-exclusive US agreement, Alvotech said it will retain the right to commercialize both products directly alongside Lotus, while Lotus will commercialize the products through its US-based, wholly owned Alvogen subsidiary.

Lotus will hold exclusive commercialization rights in South Korea, Taiwan, Thailand, Vietnam, the Philippines, Singapore, Hong Kong and Malaysia, the company said.

Alvotech will retain responsibility for product development and obtaining and maintaining marketing authorizations in the US, it said.

The agreement could provide Alvotech with up to about $150 million in upfront and milestone payments, in addition to ongoing revenue from supplying the commercial products.

Alvotech shares were 6.8% higher in early Friday trading.

Price: $4.55, Change: $+0.28, Percent Change: +6.56%

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