08:26 AM EDT, 04/19/2024 (MT Newswires) -- Alvotech ( ALVO ) said Friday that it has signed a long-term agreement with an unidentified partner to expand access to Adalimumab-ryvk, a biosimilar to Abbvie's ( ABBV ) drug Humira, in the US.

Alvotech's ( ALVO ) chief executive officer, Robert Wessman, said "the new partnership agreement supports" the biotech company's financial guidance.

Adalimumab-ryvk has been approved by the US Food and Drug Administration as a high-concentration interchangeable biosimilar to Humira, Alvotech ( ALVO ) said.

Alvotech ( ALVO ) said that its existing multiproduct commercialization partnership with Teva Pharmaceutical (TEVA) will remain unchanged and that Teva will continue to commercialize Adalimumab-ryvk in the US under the Simlandi brand.