Alvotech and Advanz Pharma announced that the companies have entered into an exclusive partnership agreement regarding the supply and commercialization of five biosimilar candidates in Europe. Alvotech will be responsible for development and commercial supply and Advanz Pharma will be responsible for registration and commercialization in Europe. The agreement includes candidate biosimilars to Simponi® (golimumab) and Entyvio® (vedolizumab) and also includes three additional early-stage, undisclosed biosimilar candidates.

According to IQVIA, the current addressable market for these five biosimilars is more than US$4bn for the markets in scope of the agreement. In February 2023 Alvotech and Advanz Pharma announced that the companies had entered into an exclusive agreement for the commercialization of AVT23, a proposed biosimilar to Xolair® (omalizumab). The agreement covers the European Economic Area, UK, Switzerland, Canada, Australia, and New Zealand.