Alvotech Entered into a Settlement Agreement with AbbVie for AVT02 (biosimilar, adalimumab)
Shots:
- Alvotech gets the non-exclusive rights to market AVT02 (100mg/mL) high-concentration, citrate-free biosimilar candidate for Humira (adalimumab) in the US with an expected date of launch on July 1, 2023
- Additionally, all ongoing US disputes b/w AbbVie & Alvotech have been resolved related to adalimumab biosimilar, including the ITC case that was filed in Dec. 2021. The agreement removes any corresponding litigation-related barriers from reaching US patients with rheumatic conditions
- AVT02 has been approved in the EU, Canada & the UK. On Dec 7, 2021, Alvotech and Oaktree had entered into a definitive business combination agreement where the combined company’s securities are listed on NASDAQ under the symbol “ALVO”
Ref: Businesswire | Image: Alvotech
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
