Canadian generics firm JAMP Pharma moves into biosimilars

Montreal-based generics firm JAMP Pharma has bought the Canadian rights to five biosimilars from Icelandic company Alvotech.

While JAMP has around 250 molecules in its portfolio, it currently has only one biosimilar. The firm’s continued expansion into this area will see it enter a market with a value of around $1.5 billion in branded sales.

Alvotech, a Reykjavik-based company which raised around $300 million in private finance in early 2019, has six biosimilar antibodies in its pipeline aimed at treating cancer, autoimmune, inflammatory and other diseases.