Oshkosh Corporation Appoints Angela M. Ambrose Vice President, Government Operations

Rhea-AI Summary

Alvotech and STADA are expanding their strategic alliance for biosimilars by extending their partnership to include AVT03, a biosimilar candidate for Prolia®/Xgeva® (denosumab). This medication targets osteoporosis and cancer-related bone loss. Under the agreement, Alvotech will handle development and manufacturing, while STADA will manage commercialization in Europe, including Switzerland and the UK, as well as selected countries in Central Asia and the Middle East.

The partnership also extends STADA's commercial rights for Humira® and Stelara® biosimilars to CIS countries in Central Asia. Alvotech regains commercial rights to AVT06, a proposed Eylea® biosimilar. This expansion builds on their successful collaboration, which has already launched Hukyndra®, a high-concentration Humira® biosimilar, in Europe.

Positive

• Expansion of strategic alliance to include AVT03, a biosimilar for Prolia®/Xgeva® (denosumab)
• STADA gains semi-exclusive commercial rights in Europe and exclusive rights in selected Central Asian and Middle Eastern markets
• Extension of STADA's commercial rights for Humira® and Stelara® biosimilars to CIS countries
• Alvotech regains commercial rights to AVT06, a proposed Eylea® biosimilar

Negative

• None.

OSHKOSH, Wis.--(BUSINESS WIRE)-- Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment, announced today that Angela M. Ambrose has joined the organization as vice president of government operations to lead global public policy. Ambrose brings more than two decades of combined legislative and executive branch experience to the company, most recently serving as vice president, government relations and communications for General Motors Defense. Prior, she held two private sector legislative roles, serving as the defense portfolio government relations lead within Accenture’s federal practice and as the chief congressional strategist for Northrop Grumman’s aerospace business.

Oshkosh Corporation announced today that Angela M. Ambrose has joined the organization as vice president of government operations to lead global public policy. Ambrose brings more than two decades of combined legislative and executive branch experience to the company, most recently serving as vice president, government relations and communications for General Motors Defense. Prior, she held two private sector legislative roles, serving as the defense portfolio government relations lead within Accenture’s federal practice and as the chief congressional strategist for Northrop Grumman’s aerospace business. (Photo: Business Wire)

Ambrose served as a federal civil servant on the senior legislative liaison teams in the Office of the Director of National Intelligence and Department of Defense’s Joint Improvised Explosive Device Defeat Organization. She began her professional experience on Capitol Hill in the U.S. House of Representatives. In her new role at Oshkosh, she will be responsible for executing the company’s global public policy and its federal legislative, state and local government affairs priorities. In addition, she will manage the Oshkosh Corporation government affairs office in Washington, D.C., which supports the company’s 13 market-leading businesses.

“We are honored to welcome Angela to the Oshkosh family,” said Ignacio A. Cortina, executive vice president, chief legal officer and secretary of Oshkosh Corporation. “Her extensive and diverse experience will further our government strategy, support the business’ key priorities and foster the strong relationships we have developed on Capitol Hill while building new ones at every level of government operations.”

Ambrose earned a Bachelor of Arts degree in communications from Edinboro University of Pennsylvania and a Master of Arts degree in national security and strategic studies from the U.S. Naval War College. She was named The Hill’s Top Lobbyist in 2021, 2022 and 2023 and is a board member of the National Defense Industrial Association and the National Defense University Foundation.

To learn more about Oshkosh Corporation please visit oshkoshcorp.com today.

About Oshkosh Corporation

At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs approximately 17,000 team members worldwide, all united behind a common purpose: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Hinowa, Power Towers, Pierce®, MAXIMETAL, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, Oshkosh AeroTech™ and Pratt Miller. For more information, visit oshkoshcorp.com.

®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward Looking Statements

This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “confident” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the Company’s fire apparatus, refuse and recycling collection and air transportation equipment markets, which are particularly impacted by the strength of U.S. and European economies; risks that a trade war and related tariffs could reduce the competitiveness of the Company’s products; the Company’s ability to comply with complex laws and regulations applicable to U.S. government contractors; cybersecurity risks and costs of defending against, mitigating and responding to data security threats and breaches impacting the Company; the Company’s ability to successfully identify, complete and integrate other acquisitions and to realize the anticipated benefits associated with the same; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240715147335/en/

Financial: Patrick Davidson

Senior Vice President, Investor Relations

920.502.3266



Media: Jennifer Stiansen

Vice President, Global Branding & Communications

240-500-6485

Source: Oshkosh Corporation

FAQ

What is the new biosimilar candidate AVT03 in the Alvotech-STADA partnership targeting?

AVT03 is a biosimilar candidate referencing Prolia®/Xgeva® (denosumab), targeting osteoporosis and cancer-related bone loss.

How are responsibilities divided between Alvotech and STADA for AVT03?

Alvotech will be responsible for development and manufacturing of AVT03, while STADA will handle commercialization and become the marketing authorization holder upon approval.

In which regions will STADA have commercial rights for AVT03?

STADA will have semi-exclusive commercial rights in Europe (including Switzerland and the UK) and exclusive rights in selected countries in Central Asia and the Middle East.

What other changes were made to the Alvotech-STADA partnership?

STADA's commercial rights for Humira® and Stelara® biosimilars were extended to CIS countries in Central Asia, while Alvotech regained commercial rights to AVT06, a proposed Eylea® biosimilar.