Alvotech up on extended biosimilar development pact with Japan's Fuji Pharma

Alvotech SA

13/01/2023 15:59

** U.S.-listed shares of Icelandic drugmaker Alvotech SA
 ALVO.O  rise 8.3% at ~$13
    ** Co and Japanese pharmaceutical company Fuji Pharma Co Ltd
 4554.T  expand existing exclusive commercialization partnership
    ** Under extended pact, cos to add a new undisclosed
biosimilar candidate, which will be developed and manufactured
by ALVO and commercialized by Fuji in Japan
    ** ALVO first reported partnership with Fuji in Nov 2018,
previously extended in Dec 2020 and later in Feb 2022, now
covering seven biosimilars including the new candidate
    ** ALVO and Fuji recently submitted marketing application
for the first co-developed biosimilar candidate, seeking
approval in Japan 
    ** In 2022, ALVO stock was up 1.2% 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))