Cipla Limited has announced that it’s subsidiary, Cipla Gulf FZ LCC (“Cipla Gulf’) is expanding its partnership with Alvotech 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 the biologic medicine brands, Aflibercept (Eylea
®️), Ustekimumab (Stelara), Denosumab (Prolia, Xgeva
®️) and Golimumab (Simponi
®️). These are leading products covering therapeutic categories across immunology, osteoporosis, oncology as well as ophthalmology (eg. Aflibercept is indicated for nAMD and other serious eye diseases).
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 pantherapy 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.”
Cipla wascurrently trading at Rs805.50 per piece up by Rs16 or 2.03% from its previous closing of Rs789.50 per piece on the BSE, at around 12:30 PM