Alvotech and Fuji Pharma extend biosimilar partnership in Japan
Alvotech and Japanese pharmaceutical company Fuji Pharma (Tokyo Stock Exchange: 4554) announce that they have agreed on an extension on their exclusive strategic partnership for the commercialization of four biosimilar medicines in Japan. The initial pipeline contains biosimilar candidates aimed at treating various therapeutic conditions for patients in Japan.
The agreement strengthens the ongoing relationship between the two parties, having entered into an exclusive partnership for the commercialization of Alvotech?s biosimilar portfolio in Japan in 2018.
?The partnership between the two companies is based on shared values and a joint commitment to drive positive change and improved access to biosimilar medicines for patients around the world. The binding term sheet takes Alvotech one step closer to gaining further access to Japan?s fast-growing biosimilars market, forecasted to grow as much as 35% CAGR over the next years. We will also continue our discussions with Fuji Pharma for additional products from our biosimilar portfolio.?
?Alvotech and Fuji Pharma shares the same management value to keep the patient first. With inclusion of four new biosimilar medicines to our existing partnership, Fuji Pharma now has an industry leading biosimilar pipeline in the world?s 2nd largest market for the biologic medicines. Fuji Pharma, being one of the pioneers among Japanese biosimilar companies, will continue to lead in its efforts to make the high-quality, safe and affordable biosimilar medicines available to patients in Japan with committed stable supply.?
