Alvotech & Teva secure AVT04 license date, for proposed Stelara biosimilar

Alvotech (ALVO) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries and (TEVA), announced they have reached a settlement and license agreement with Johnson & Johnson ( JNJ) concerning AVT04, Alvotech’s proposed biosimilar to Stelara or ustekinumab in the United States. The settlement grants a license entry date for AVT04 in the United States no later than February 21, 2025. “We are delighted to have secured a U.S. license date for our second biosimilar candidate in the U.S. and I believe this exemplifies our multi-product approach to biosimilars globally,” said Robert Wessman, Chairman and CEO of Alvotech. “Biosimilars are a key component of Teva’s short and long-term strategy,” said Sven Dethlefs, PhD, Executive Vice President, North America Commercial at Teva, “Today’s announcement is another step forward in our partnership with Alvotech, who shares our commitment to lower the cost burden of biologics on the healthcare system.”