Alvogen agrees biosimilar commercial deals in three major markets

23-Oct-2019 - Last updated on 23-Oct-2019 at 14:34 GMT

(Image: Getty/Metamorworks)

Biosimilar developer agrees three different distribution partners in South Korea, Israel and Canada for biosimilar to Forteo.

Alvogen has signed agreements with PharmBio, Kamada and Jamp, for each country, respectively. The company’s biosimilar, PF708, is still subject to approval in the three countries.

The biosimilar was originally developed by Pfenex, but the two companies entered into a development and commercialization agreement that would see Alvogen take the lead in certain European countries, the Middle East, North Africa and the ‘rest of world’ territories.

Earlier this month, PF708 was approved in the US and is known by the brand name, Bonsity. The biosimilar is also currently going through the regulatory process with the European Medicines Agency.

Forteo (teriparatide) is Eli Lilly’s treatment for men and postmenopausal women with osteoporosis. The treatment managed global sales of $1.6bn (€1.4bn) in 2018.

In addition to securing partners in the three countries, Alvogen also noted that it had submitted for marketing authorization in Saudi Arabia.

Alvogen will manufacture the biosimilar out of its subsidiary’s $250m Iceland-based manufacturing plant.