Teva and Alvotech collaborate on biosimilars for US market
Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) has entered into an exclusive strategic partnership for the commercialization in the USA of five biosimilar product candidates with Iceland-based Alvotech.
This strategic partnership combines Teva’s long-standing commercial presence and extensive infrastructure in the US market with Alvotech’s scientific experience and state-of-the-art biologics manufacturing. The initial pipeline contains biosimilar candidates addressing multiple therapeutic areas.
Teva’s shares were up almost 4% at 4,278 shekels by late afternoon trading in Tel Aviv, though this was most likely due to the company posting financials that beat expectations.
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