- Bone Health
- Immunology
- Hematology
- Respiratory
- Dermatology
- Diabetes
- Gastroenterology
- Neurology
- Oncology
- Ophthalmology
- Rare Disease
- Rheumatology
Alvotech Brings in $40 Million in Revenue for First Half of 2022
Thanks to the success of its adalimumab biosimilar in Canadian and European markets, Alvotech’s revenues reached over $40 million during the first 6 months of 2022, nearly 20 times more than its revenue from the same period in 2021.
In its earnings report for the first half of 2022, Alvotech announced that revenues reached $40.1 million, largely due to the Canadian and European launches of the company’s adalimumab biosimilar (AVT02) referencing Humira.
The period lasted from January 1, 2022, to June 30, 2022. During the same time period the previous year, the pureplay biosimilars company generated $2.0 million in revenues.
The revenue from AVT02 represented $3.9 million of the total revenue. The other $36.2 million came from license and milestone payments related to the main clinical programs for AVT04, a ustekinumab biosimilar referencing Stelara.
Compared with the first 6 months of 2021 ($90.4 million), research and development costs were $86.9 million during the same period in 2022. Alvotech said that the decrease was due to pre-commercial manufacturing costs that are now classified under cost of product revenue. Cost of product revenue for the first half of 2022 was $17.8 million.
AVT02 was approved for the Canadian market in January 2022, where it is marketed under the name Simlandi. In early June 2022, Alvotech, through its partnership with STADA Arzneimittel, launched AVT02 under the Hukyndra name in France, Germany, Finland, and Sweden. Biologics license applications for approval and interchangeability for AVT02 are currently under review with the FDA.
Also in June, shares of Alvotech officially debuted on the public Icelandic and American stock markets.
“We have achieved a number of pivotal milestones since we first announced our intention to enter the public markets; launching our first biosimilar in Europe and Canada, advancing multiple biosimilar candidates into clinical trials and transitioning from being a privately held company to being publicly listed both in the U.S. and Iceland,” Robert Wessman, found and executive chairman of Alvotech, said in a statement.
In addition to AVT02 and AVT04, Alvotech is publicly working on 3 other biosimilars: an aflibercept biosimilar referencing Eylea (AVT06), a denosumab biosimilar referencing Prolia/Xgeva (AVT03), and an omalizumab biosimilar referencing Xolair (AVT23).
Adalimumab Biosimilar Switching Policy Shows Long-Term Success in IBD
February 26th 2025Patients with inflammatory bowel disease (IBD) who switched from reference adalimumab (Humira) to a biosimilar under a mandatory nonmedical switching policy maintained long-term safety, efficacy, and treatment persistence comparable to those who remained on the originator drug, according to a Canadian study.
Will the FTC Be More PBM-Friendly Under a Second Trump Administration?
February 23rd 2025On this episode of Not So Different, we explore the Federal Trade Commission’s (FTC) second interim report on pharmacy benefit managers (PBMs) with Joe Wisniewski from Turquoise Health, discussing key issues like preferential reimbursement, drug pricing transparency, biosimilars, shifting regulations, and how a second Trump administration could reshape PBM practices.
Resolution of Injection Site Reactions After Switching to Adalimumab Biosimilar
February 22nd 2025A 15-year-old girl with ulcerative colitis who developed injection site reactions to the adalimumab reference product was successfully switched to the biosimilar LBAL without recurrence of symptoms, demonstrating the safety and effectiveness of switching for medical reasons, likely due to an allergic reaction to an excipient in the originator.
Biosimilars Development Roundup for October 2024—Podcast Edition
November 3rd 2024On this episode of Not So Different, we discuss the GRx+Biosims conference, which included discussions on data transparency, artificial intelligence (AI), and collaboration to enhance the global supply chain for biosimilars and generic drugs, as well as the evolving requirements for biosimilar devices.
Disease Activity, Safety Remain Following Switch From Infliximab Biosimilar to Remicade in IBD
February 15th 2025Switching back from infliximab biosimilar SB2 to reference infliximab (Remicade) did not affect clinical disease activity or safety in inflammatory bowel disease (IBD), according to a prospective cohort study.
