Cipla enlarges partnership with Alvotech; share reacts positively

Cipla Limited announced that its subsidiary, Cipla Gulf FZ LCC (Cipla Gulf) is expanding its partnership with Alvotech for the purpose of marketing & distribution of four biosimilar medicines in Australia and New Zealand. 

As a part of the strategic alliance, Cipla Gulf will commercialise patented biosimilars of the biologic medicine brands, Aflibercept (Eylea®), Ustekimumab (Stelara), Denosumab (Prolia, Xgeva®) and Golimumab (Simponi®). They qualify as the leading products, which cover therapeutic categories across immunology, osteoporosis, oncology as well as ophthalmology (e.g. Aflibercept is indicated for nAMD and other serious eye diseases). 

Alvotech will develop & manufacture the products whereas the products would be distributed by Cipla Gulf through Australia and New Zealand distribution networks. The year 2020 recorded sales of US$ 700 million in aggregate for these innovative products. Previously, Cipla Gulf had entered into another agreement with Alvotech in July 2019 for the commercialisation of AVT02, an adalimumab biosimilar, in select emerging markets. 

Cipla Ltd is a pharmaceutical company having strategic business units, which include active pharmaceutical ingredients (APIs), respiratory and Cipla global access. Its geographical segments stretch to India, the USA, South Africa and the rest of the world. 

The share of Cipla Limited was trading at Rs 797.00 on Tuesday, which is 0.95 per cent up at 9.59 am on BSE.