20 November 2018 - - Iceland-based biopharmaceutical company Alvotech and Japan-based pharmaceutical company Fuji Pharma (Tokyo Stock Exchange: 4554) are entering into an exclusive partnership for the commercialization by Fuji Pharma of Alvotech's biosimilar portfolio in Japan, the companies said.

Under the partnership, Alvotech will be responsible for development and supply of multiple high value biosimilar assets from its current product pipeline, while Fuji Pharma will be responsible for registration and commercialisation of these assets in Japan.

Alvotech's biosimilar portfolio includes high value products used in advanced therapies of oncology, ophthalmology and autoimmune disease that generated over USD 32bn in global sales in 2017 (Evaluate).

The partnership has been made with a view to establishing a long-term relationship that also gives Fuji Pharma the opportunity to invest in Alvotech's capital structure. The partnership is based on shared values and a joint commitment to drive positive change for patients around the world.

In partnering with Fuji Pharma, Alvotech will gain access to Japan's fast-growing biosimilars market, forecasted to grow as much as 35% CAGR over the next years. Fuji Pharma, established in 1965, will use its strong local expertise as it goes about commercializing Alvotech's portfolio.

Alvotech hf. is a privately-owned biopharmaceutical company focused on the development and manufacturing of biosimilars for global markets.

Fuji Pharma is a Japan-based pharmaceutical company mainly engaged in the manufacture and sale of prescription based pharmaceutical products.