Alvotech (NASDAQ:ALVO) has announced an extended partnership with STADA to develop and commercialize AVT03, a proposed biosimilar to Prolia® and Xgeva® (denosumab).

Under the new agreement terms, Alvotech will handle the development and manufacturing of AVT03 at its advanced facility in Reykjavik, Iceland.

Upon approval of AVT03, STADA will become the marketing authorization holder and will manage semi-exclusive commercial rights in Europe, including Switzerland and the UK, as well as exclusive commercial rights in select Central Asian and Middle Eastern countries.

Simultaneously, the two companies have agreed to extend STADA’s commercial rights to include biosimilars for Humira® (adalimumab) and Stelara® (ustekinumab) in Commonwealth of Independent States (CIS) countries.

Additionally, Alvotech will regain commercial rights from STADA to AVT06, a proposed biosimilar to Eylea® (aflibercept), enhancing Alvotech's portfolio and presence in the biosimilars market.