Fuji Pharma will exclusively commercialize the medicines in Japan – discussions between the parties continue over additional biosimilar candidates
Alvotech and Japanese pharmaceutical company Fuji Pharma announce that they have agreed on an extension on their exclusive strategic partnership for the commercialization of four biosimilar medicines in Japan. The initial pipeline contains biosimilar candidates aimed at treating various therapeutic conditions for patients in Japan.
The agreement strengthens the ongoing relationship between the two parties, having entered into an exclusive partnership for the commercialization of Alvotech’s biosimilar portfolio in Japan in 2018.
“The partnership between the two companies is based on shared values and a joint commitment to drive positive change and improved access to biosimilar medicines for patients around the world. The binding term sheet takes Alvotech one step closer to gaining further access to Japan’s fast‐growing biosimilars market, forecasted to grow as much as 35% CAGR over the next years. We will also continue our discussions with Fuji Pharma for additional products from our biosimilar portfolio.”
Anil Okay, Alvotech’s Chief Commercial Officer
“Alvotech and Fuji Pharma shares the same management value to keep the patient first. With inclusion of four new biosimilar medicines to our existing partnership, Fuji Pharma now has an industry leading biosimilar pipeline in the world’s 2nd largest market for the biologic medicines. Fuji Pharma, being one of the pioneers among Japanese biosimilar companies, will continue to lead in its efforts to make the high-quality, safe and affordable biosimilar medicines available to patients in Japan with committed stable supply.”
Atsuya Mitsuhashi, Fuji Pharma’s General Manager and Head of Portfolio Management
Fuji Pharma, which currently owns a minority stake in Alvotech, will now have the opportunity to enter into new therapeutic areas following the agreement, as the company aims to succeed in its goal of delivering high-quality biosimilar products to the Japanese market.
Fuji Pharma, established in 1965, will use its strong local expertise as it goes about commercializing Alvotech’s portfolio in Japan.
About Fuji Pharma
Fuji Pharma Co., Ltd. is a Tokyo Stock Exchange (TSE) listed, Japan‐based pharmaceutical company mainly engaged in the manufacture and sale of prescription based pharmaceutical products. Fuji Pharma focuses on development and commercialization of hormone medicines for obstetrics and gynecology therapies, as well as injectable drugs including diagnostic pharmaceutical products. Fuji Pharma was among the pioneers in Japan to develop and obtain biosimilar approval in Japan for G-CSF in 2012.