Alvotech signs $150 million biosimilar deal

• Alvotech entered a licensing and commercialization agreement with Lotus Pharmaceutical for two biosimilar candidates.
• The agreement covers AVT34 and AVT87 across the U.S. and selected Asian markets, with potential value of about $150 million.
• Alvotech will handle development and global supply, while Lotus will manage commercialization in selected markets.

Alvotech (NASDAQ:ALVO) entered a strategic licensing and commercialization agreement with Lotus Pharmaceutical covering two biosimilar candidates, AVT34 and AVT87, with potential value of approximately $150 million.

The agreement covers AVT34, a proposed biosimilar to Imfinzi (durvalumab), and AVT87, a proposed biosimilar to Hemlibra (emicizumab), across the U.S. and selected Asian markets.

Under the agreement, Alvotech may commercialize both products directly in the U.S. alongside Lotus, while Lotus will sell the products through its subsidiary Alvogen, and in Asia will receive exclusive commercialization rights in eight markets.

Alvotech said the agreement includes potential upfront and milestone payments of up to approximately $150 million, along with ongoing product supply revenues.

The company will remain responsible for product development and U.S. regulatory submissions, while Lotus will manage local regulatory filings in the covered Asian markets.

The partnership expands Alvotech’s biosimilar commercialization network as it advances additional candidates targeting established biologic medicines.