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Alvotech, a leading player in the global biotech industry, has collaborated with Polifarma, a reputed Turkish pharmaceutical firm, for the exclusive commercialization of AVT06 in Turkey.
A Milestone Collaboration
Robert Wessman, CEO of Alvotech, expressed his delight over the collaboration with Polifarma, emphasizing their shared commitment to enhancing patient access to affordable biologics. He further mentioned that the agreement will play a pivotal role in expanding Alvotech's presence in Turkey's ever-growing market.
Polifarma's Excitement
Mehmet Asri, CEO of Polifarma, mirrored the same enthusiasm towards the partnership. He viewed it as an opportunity for his company to strengthen its position in the ophthalmology sector and expand its portfolio.
The Terms of Agreement
According to the agreement, Alvotech will oversee the development and production of AVT06, while Polifarma will be responsible for market registration and commercialization.
About AVT06
AVT06 is an investigational product and a proposed biosimilar to Eylea® (aflibercept), a popular drug for treating eye disease. It is a recombinant fusion protein that binds with vascular endothelial growth factors (VEGF), thereby inhibiting VEGF receptors' binding and activation, neovascularization, and vascular permeability.
In July 2022, Alvotech initiated a patient study to assess the efficacy, safety, and immunogenicity of AVT06 in comparison to Eylea® in adult patients suffering from neovascular (wet) age-related macular degeneration (AMD).
However, AVT06 is still in the clinical development stage and is yet to receive regulatory approval in any country.
Polifarma: A Brief Overview
Polifarma, a market leader of hospital products in Turkey, has a rich history of 37 years, with 100% domestic capital. The company manufactures 350 million boxes annually at its sprawling 77,000 square meter facility in Ergene/Tekirdağ.
Apart from ampoules, vials, and pre-filled syringes, Polifarma boasts of having 600 licensed products in all forms and 12 certificates in 15 therapeutic areas. It aims to become a global leader by 2025, holding high its commitment to quality and technology.
Alvotech: A Global Leader
Alvotech, founded by Robert Wessman, is solely dedicated to the development and manufacture of biosimilar medicines for patients worldwide. Its current pipeline contains eight biosimilar candidates aimed at treating a wide array of conditions, including autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer.
Alvotech's strategic commercial partnerships span across various countries, including the United States, Europe, Japan, China, as well as large parts of South America, Africa and the Middle East.
Commercial Partners of Alvotech
Alvotech's commercial partners include reputed pharmaceutical firms such as Teva Pharmaceuticals, STADA Arzneimittel AG, Fuji Pharma Co., Ltd, Advanz Pharma, Cipla/Cipla Gulf/Cipla Med Pro, JAMP Pharma Corporation, Yangtze River Pharmaceutical (Group) Co., Ltd., DKSH, YAS Holding LLC, Abdi Ibrahim, Kamada Ltd., Mega Labs, Stein, Libbs, Tuteur and Saval, and Lotus Pharmaceuticals Co., Ltd.
Each partnership covers a unique set of product(s) and territories.
Alvotech's Disclaimer
Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners, except as specifically set forth therein.
For more information, please visit Alvotech's Official Website.
Conclusion
This collaboration between Alvotech and Polifarma is a significant step forward in making biosimilar medicines more accessible and affordable for patients worldwide. It will be exciting to see how this partnership unfolds and what impact it will have on Turkey's healthcare landscape.
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