Biopharmaceutical company Alvotech announced today that Japan-based Fuji Pharma has acquired a 4.2% stake in the business for approximately US$50 million.
Alvotech and Fuji Pharma recently announced an exclusive agreement for development and commercialization of biosimilars in Japan. Fuji´s investment into Alvotech further strengthens the partnership between the companies and reflects long-term commitment from both companies.
Key shareholders in Alvotech following the transaction are Aztiq Pharma AB, which is the controlling shareholder led by Robert Wessman, generic pharmaceutical company Alvogen and Fuji Pharma.
Alvotech‘s current pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases, with first products expected to be brought to market by 2020. Since its foundation in 2013, Alvotech has invested in a valuable product pipeline and built a new state-of-the-art biopharmaceutical facility in Reykjavik, Iceland. Development centers are based in Germany and Switzerland, and the company employees over 250 scientists.
Róbert Wessman, Founder of Alvotech, said:
Hirofumi Imai, Chairman of Fuji Pharma, said:
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 radiopharmaceutical products. Fuji Pharma was among the pioneers in Japan to develop and obtain biosimilar approval in Japan for GCSF in 2012.