Alvotech (NASDAQ:ALVO), in agreement with Teva Pharmaceutical (NYSE:TEVA), signed a long-term agreement with a strategic partner to further enhance access to Adalimumab-ryvk in the U.S. market, the newly U.S. Food and Drug Administration approved high-concentration interchangeable biosimilar to Humira.
Alvotech (ALVO) said, the current multi-product commercialization partnership between Teva and Alvotech remains unchanged and Teva will continue to commercialize adalimumab-ryvk under the Simlandi brand in the U.S.
Simlandi is the first citrate-free, high-concentration biosimilar to be designated interchangeable to AbbVie’s (ABBV) blockbuster arthritis therapy, Humira, in the U.S.
Alvotech (ALVO) shares rose +3.03% to $13.28premarket.
