Global biotechnology company Alvotech SA (NASDAQ: ALVO; STO: ALVO-SDB), which develops and manufactures biosimilar medicines, said on Friday it has signed a strategic licensing and commercialisation agreement with Lotus Pharmaceutical (TWSE: 1795) for two proposed biosimilars in the United States and selected Asian markets.

The candidates are AVT34, a proposed biosimilar to durvalumab, and AVT87, a proposed biosimilar to emicizumab.

Durvalumab generated global sales of about USD6.1bn in 2025, while emicizumab recorded CHF4.8bn (USD5.8bn) in global sales in the same year. Under a semi-exclusive US agreement, Alvotech will commercialise both products directly alongside Lotus, which will market them through its US subsidiary Alvogen.

Alvotech will lead product development, secure and maintain US marketing authorisations, and act as exclusive supplier across all territories. In Asia, Lotus will hold exclusive rights in South Korea, Taiwan, Thailand, Vietnam, the Philippines, Singapore, Hong Kong and Malaysia, and will manage regulatory submissions and commercialisation.

The agreement is worth up to about USD150m in upfront and milestone payments for Alvotech, alongside future supply revenues.