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| Thursday, 4 March 2021, 10:26 HKT/SGT | |
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Source: Alvotech | |
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HONG KONG, Mar 4, 2021 - (ACN Newswire) - Multinational biopharmaceutical company Alvotech and Gulf FZ LCC ("Cipla Gulf"), subsidiary of Cipla Limited (BSE: 500087; NSE: CIPLA EQ) referred to as "Cipla" today announced that they are expanding their partnership for the marketing and distribution of four biosimilar medicines in Australia and New Zealand.
As part of this strategic alliance, Cipla Gulf will be responsible for commercialization of patented biosimilars of leading products covering therapeutic categories across immunology, osteoporosis, oncology as well as ophthalmology.
The products are developed and manufactured by Alvotech and will be distributed by Cipla Gulf through Australia and New Zealand distribution networks. These innovative products recorded US$700 Mn in aggregate 2020 sales in Australia.
Cipla Gulf had previously entered into a similar agreement with Alvotech in July 2019 for the commercialization of AVT02, an adalimumab biosimilar, in select emerging markets.
Commenting on the partnership, Nishant Saxena, CEO, International Business (Europe & Emerging Markets), Cipla, said: "Ensuring access to critical medicines is core to our purpose of 'Caring for Life' and this partnership is a step in that direction. We believe Alvotech's products will enhance our biosimilars pipeline and allow us to establish a pan-therapy presence in the specialties segment, improving our footprint in this strategic Australia market."
Anil Okay, Alvotech's Chief Commercial Officer, said: "We are delighted to be taking this strategic step with Cipla. The combination of Alvotech's development and manufacturing expertise and Cipla's commercial capabilities will be central in expanding patient access in the region, to high-quality biosimilars."
About Alvotech
Alvotech is a multinational biopharmaceutical company focused on the development and manufacture of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech's shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Cipla Gulf FZ from Australia and New Zealand, Shinhan from Korea, Baxter Healthcare SA, YAS Holdings, ATHOS (Strungmann Family Office), CVC Capital Partners and Temasek from Singapore. Alvotech's initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.
About Cipla
Established in 1935, Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets. Our strengths in the respiratory, anti-retroviral, urology, cardiology, anti-infective and CNS segments are well-known. Our 46 manufacturing sites around the world produce 50+ dosage forms and 1,500+ products using cutting-edge technology platforms to cater to our 80+ markets. Cipla is ranked 3rd largest in pharma in India (IQVIA MAT December'20), 3rd largest in the pharma private market in South Africa (IQVIA MAT December'20), and is among the most dispensed generic players in the U.S. For over eight decades, making a difference to patients has inspired every aspect of Cipla's work. Our paradigm-changing offer of a triple anti-retroviral therapy in HIV/AIDS at less than a dollar a day in Africa in 2001 is widely acknowledged as having contributed to bringing inclusiveness, accessibility and affordability to the centre of the HIV movement. A responsible corporate citizen, Cipla's humanitarian approach to healthcare in pursuit of its purpose of 'Caring for Life' and deep-rooted community links wherever it is present make it a partner of choice to global health bodies, peers and all stakeholders. For more, please visit www.cipla.com, or click on Twitter, Facebook, LinkedIn.
For Media and Investor Enquiries:
Strategic Financial Relations Limited
Angelus Lau Tel: (852) 2864 4805 Email: angelus.lau@sprg.com.hk
Beverly Chiu Tel: (852) 2114 4329 Email: beverly.chiu@sprg.com.hk
Carrie Leung Tel: (852) 2114 4912 Email: carrie.leung@sprg.com.hk
Topic: Press release summary
Source: Alvotech
Sectors: Daily Finance, Daily News, BioTech, Healthcare & Pharm
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From the Asia Corporate News Network
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