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Alvotech, a global biotech company, will be participating in the BofA Securities Healthcare Conference 2024 in Las Vegas, NV on May 14-15, 2024. The company's management team will be engaging in one-on-one meetings with investors during the event.
Alvotech has entered into a U.S. commercialization agreement with Quallent Pharmaceuticals to manufacture a high-concentration interchangeable biosimilar to Humira® (adalimumab). This agreement is part of Alvotech's strategic partnership with Teva Pharmaceuticals for U.S. commercialization. The biosimilar will be distributed under Quallent's private label, aiming to provide eligible patients with a copay assistance program. The FDA approved Alvotech's biosimilar as the first high-concentration, citrate-free biosimilar to Humira® granted interchangeability status, with nearly 88% of U.S. adalimumab prescriptions for high-concentration presentations.
Alvotech and Teva's partnership has already yielded two approved critical biosimilars, with more in development. Alvotech focuses on development and manufacturing, while Teva handles U.S. commercialization. Teva expects to launch Alvotech's high concentration interchangeable biosimilar to Humira® imminently.