Alvogen inks deals for Forteo biosimilar in South Korea, Israel and Canada

Privately-owned US drugmaker Alvogen today announced new exclusive commercialization agreements in South Korea, Israel and Canada for teriparatide (PF708), the therapeutic equivalent of Eli Lilly’s (NYSE: LLY) Forteo for the treatment of osteoporosis.

Subject to applicable regulatory approvals, Teriparatide PF708 will be commercialized in South Korea by local firm PharmBio, a leading specialty pharmaceutical company, in Israel by Kamada (TASE: KMDA), an international biopharmaceutical company with a strong marketing presence in Israel, and in Canada by one of the leading Canadian pharmaceutical companies, Jamp Pharma, who are driven by the desire to provide better access to health.

Alvogen has also submitted the marketing authorization application for Teriparatide (PF708) to the Kingdom of Saudi Arabia's Saudi Food and Drug Authority, demonstrating Alvogen’s continued efforts towards patient access to biosimilars around the world.

About PF708

PF708 is being developed by Pfenex (NYSE: PFNX) as a therapeutic equivalent candidate to Forteo, which is approved and marketed by Eli Lilly for the treatment of osteoporosis in certain patients with a high risk of fracture. Forteo/Forsteo achieved $1.6 billion in global product sales in 2018.