Alvotech and Fuji Pharma have entered an exclusive agreement for the development and commercialization of biosimilars in Japan. Fuji is acquiring a 4.2% stake in Alvotech for approximately $50 million, further expanding the partnership between the companies.
 
Alvotech’s current pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases, with first products expected to be brought to market by 2020.
 
Since 2013, Alvotech has invested in its product pipeline and built a new biopharmaceutical facility in Reykjavik, Iceland. Its development centers are based in Germany and Switzerland, and the company has more than 250 employees.
 
Alvotech founder Robert Wessman said, “Alvotech has established itself as a fully integrated biopharmaceutical company, ranging from cell line development of biosimilars to manufacturing, clinical development and registrations. I am delighted to welcome on board such a prestigious investor, who brings significant industry experience in the APAC region. I further welcome Mr. Hirofumi Imai who joins Alvotech’s Board of Directors and I look forward to working with him developing Alvotech in the near future.”
 
Fuji Pharma chairman Hirofumi Imai said, “Fuji Pharma is extremely pleased to become a partner in the growth with Alvotech. At Fuji, we strongly believe in Alvotech’s one-of-a-kind biologics development and scalable manufacturing capabilities. Our investment reflects the long-term business collaboration that we are committed to. It is an honor for me to join the Board of Directors at Alvotech and I look forward to working with Mr. Wessman and other colleagues at Alvotech.”