Alvotech settles with J&J to launch Stelara biosimilar in Europe, Canada (updated)

Alvotech SA

15/02/2024 11:58

(Adds details on settlement in paragraphs 2 and 3, background
in paragraph 4)
       Feb 15 (Reuters) - Alvotech  ALVO.O  said on Thursday it
has reached settlement agreements with Johnson & Johnson  JNJ.N 
for launching the biosimilar of the pharmaceutical giant's
blockbuster psoriasis drug Stelara in Japan, Canada and the
European Economic Area.
    The company expects the biosimilar, a close copy of a
biological drug, to enter the Canadian market in the first
quarter this year and Japan in May.
    Entry of the biosimilar in the first European markets is
expected in July, the company said.
    In June, Alvotech and its Israeli partner Teva
Pharmaceutical  TEVA.TA  had reached a settlement and licensing
agreement with J&J for the launch of the biosimilar, AVT04, no
later than Feb. 21, 2025, if it gets U.S. FDA approval.

 (Reporting by Leroy Leo in Bengaluru; Editing by Shounak
Dasgupta and Shilpi Majumdar)
 ((Leroy.Dsouza@thomsonreuters.com; https://twitter.com/LeroyLeo7))