- ALVOTECH and STADA enter into a strategic collaboration for seven biosimilar candidates in Europe
- STADA will exclusively commercialize the products in all key European markets as well as selected markets outside of Europe
- STADA CEO Peter Goldschmidt: “The agreement with Alvotech is one of the largest commercial biosimilar cooperation’s to date, accelerating improved patient access to high quality biosimilars.”
Alvotech and global pharmaceutical company STADA Arzneimittel AG (“STADA”) today announced that they have entered into an exclusive strategic partnership for the commercialization of seven biosimilars in all key European markets and selected markets outside Europe. The initial pipeline contains biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions as well as ophthalmology for patients around the world.
Under this partnership agreement, Alvotech will be responsible for the development, registration and supply of the biosimilars within the EU. STADA will be exclusively commercializing the products in the majority of the key European markets. The originator products of the seven biosimilars currently generate $50 billion in sales globally, allowing the two parties to agree on a particularly lucrative contract. The agreement includes an upfront payment with subsequent milestone payments over the next four years.
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. The company focuses on a two-pillar strategy consisting of generics, including specialty pharmaceuticals and non-prescription consumer health products. Worldwide, STADA Arzneimittel AG sells its products in approximately 120 countries. In financial year 2018, STADA achieved adjusted Group sales of EUR 2,330.8 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 503.5 million. As of December 31, 2018, STADA employed 10,416 people worldwide.