Alvotech and Dr Reddy’s Laboratories SA, a wholly-owned subsidiary of Dr Reddy’s Laboratories have entered into a license and supply agreement for the commercialisation of AVT03, Alvotech’s biosimilar candidate to Prolia and Xgeva (denosumab). The collaboration combines Dr Reddy’s global commercial presence with Alvotech’s proven capabilities in developing biosimilars for markets worldwide.
Alvotech will be responsible for development and manufacturing of the product. Dr Reddy’s will be responsible for registration and commercialisation of the product in the applicable markets. The license and supply agreement includes an upfront payment to Alvotech, with additional payments upon certain regulatory and commercialisation milestones as well as sales-based payments. Dr Reddy’s commercialisation rights are exclusive for the United States of America., and semi-exclusive for Europe and the United Kingdom.