Alvotech to market Dr Reddy's AVTo3 (denosumab) in US, Europe and UK

22 May 2024 , 01:48 PM

Alvotech, an international biotech business and Dr Reddy’s Laboratories have signed a licensing and supply agreement on Tuesday for the commercialization of AVT03, the latter’s biosimilar substitute of Prolia and Xgeva (denosumab).

According to a press release from Dr Reddy’s, the agreement brings together the city-based drugmaker’s global commercial presence with Alvotech’s established expertise in creating biosimilars for global markets.

AVT03 is a human monoclonal antibody and a biosimilar contender for Prolia and Xgeva, both of which contain denosumab although in different forms.

Prolia and Xgeva are approved for the treatment of a variety of disorders, including osteoporosis in postmenopausal women and the prevention of skeletal-related events in individuals with advanced cancers.

Dr Reddy’s CEO, Erez Israeli, stated, “We are pleased to collaborate with Alvotech to make this denosumab biosimilar available to patients in the United States, Europe, and the United Kingdom. Over the years, we have developed a portfolio of biosimilar pharmaceuticals that are sold in a number of emerging regions.”

Alvotech will be in charge of the product’s development and manufacture, while Dr Reddy’s will be in charge of product registration and commercialization in the relevant markets.

The license and supply deal involves an upfront payment to Alvotech, as well as subsequent payments based on regulatory and commercialization milestones and sales.

Dr Reddy’s commercialisation rights are exclusive in the United States and semi-exclusive in Europe and the United Kingdom, according to the press release.

At around 1.42 PM, Dr Reddy’s was trading 1.24% higher at ₹5,851.75 per piece, against the previous close of ₹5,779.80 on NSE. The counter touched an intraday high and low of ₹5,905, and ₹5,790.40, respectively.

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