DKSH Business Unit Healthcare and biopharmaceutical company Alvotech, have announced their extended partnership to bring additional biosimilars, or biologic medical products to Asia. The collaboration will include the following markets: Taiwan, Korea, Hong Kong, Philippines, Vietnam, Thailand, Cambodia, Myanmar, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan.
A biosimilar is a biologic medical product, highly similar to an already approved biological medicine. Unlike generic drugs, biosimilars are not an exact copy of an existing drug’s chemical composition, but “highly similar”, meaning close enough in duplication to accomplish the same therapeutic and clinical result.
To accelerate DKSH’s entry into the fast-growing market of biosimilars and help widen access to critical medicines in Asia, the company has extended its partnership with Alvotech, obtaining the exclusive rights for six additional Alvotech biosimilars. This will enable DKSH to provide Asian patients access to state-of-the-art and cost-effective biosimilars.
DKSH signed its first biosimilar deal with Alvotech last year for AbbVie’s HUMIRA®, a leading drug
indicated for the treatment of several autoimmune diseases. AbbVie’s HUMIRA® recorded global sales of about USD 20 billion, making it the largest-selling blockbuster medicine in the world.
Mark Levick, Chief Executive Officer of Alvotech, commented: “We have been delighted to work with DKSH since our initial partnership began earlier this year. The partnership is designed to accelerate improved patient access for high quality biosimilar medicines in the Asian biosimilar industry. This is also another milestone for Alvotech, where we continue to extend our network of leading commercial partners around the globe.”
Bijay Singh, Global Head of Business Unit Healthcare, DKSH, said: “The extended partnership with Alvotech demonstrates our commitment to bringing high-quality medical products to Asian patients and enriching their lives. At DKSH, we believe biosimilars offer a tremendous opportunity to enhance the standard of care in several disease areas across Asian markets. This partnership brings together two strong players – Alvotech, with their leading position in the development and manufacturing of biosimilars worldwide, and DKSH as the leading commercial outsourcing partner for healthcare companies in Asia.”