05:26 AM EDT, 06/11/2024 (MT Newswires) -- Alvotech ( ALVO ) said on late Monday it has expanded an existing alliance with STADA to include AVT03, a biosimilar candidate for denosumab that targets osteoporosis and cancer-related bone loss.

Under the agreement, Alvotech ( ALVO ) will handle development and manufacturing at its Reykjavik facility, the company said, adding STADA will have the marketing authorization for AVT03 upon approval and will have semi-exclusive commercial rights in Europe, including Switzerland and the UK, and exclusive rights in select Central Asian and Middle Eastern countries.

The two partners have also agreed to extend STADA's commercial rights to biosimilars to Abbvie's ( ABBV ) Humira and Stelara to Commonwealth of Independent States countries in Central Asia.

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