Alvotech to produce Humira biosimilar for Cigna's Quallent [Seeking Alpha]
Alvotech (ALVO)
Company Research
Source: Seeking Alpha
The Icelandic drugmaker said the Quallent deal is in alignment with its US commercialization agreement with Teva ( TEVA ) for biosimilars of Humira, which lost patent protection last year. Humira is also known as adalimumab. Last week, Cigna said it planned to offer a biosimilar of Humira through its Quallent unit that would be around 85% cheaper than branded Humira. The biosimilar would also be available with no out-of-pocket costs to eligible patients through Quallent's copay assistance program. Alvotech said Monday that it planned to produce a high-concentration, citrate-free biosimilar of Humira, which will be distributed under Quallent's private label. The company said that nearly 88% of US prescriptions for adalimumab are for high-concentration formulations. The FDA approved Alvotech's biosimilar for Humira in February 2024. Under the company's agreement with Teva, Alvotech is responsible for development and manufacturing, with Teva overseeing US commercialization of the
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ALVO
News
- Alvotech Announces Webcast of First Quarter 2024 Financial Results on May 22, 2024, at 8:00 am EDT (12 noon GMT)GlobeNewswire
- TEVA Q1 Earnings Miss, Schizophrenia Study Meets Goal, Stock Up [Yahoo! Finance]Yahoo! Finance
- Alvotech Announces Participation at BofA Securities Healthcare Conference 2024GlobeNewswire
- U.S. Commercialization Agreement with Quallent to Drive Patient Savings with First High-Concentration Citrate-Free Interchangeable Biosimilar to Humira® (adalimumab) [Yahoo! Finance]Yahoo! Finance
- U.S. Commercialization Agreement with Quallent to Drive Patient Savings with First High-Concentration Citrate-Free Interchangeable Biosimilar to Humira® (adalimumab)GlobeNewswire
ALVO
Sec Filings
- 4/30/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/19/24 - Form 6-K
- ALVO's page on the SEC website