(Reuters) – Alvotech said on Thursday it has reached settlement agreements with Johnson & Johnson for launching the biosimilar of the pharmaceutical giant’s blockbuster psoriasis drug Stelara in Japan, Canada and the European Economic Area.
The company expects the biosimilar, a close copy of a biological drug, to enter the Canadian market in the first quarter this year and Japan in May.
Entry of the biosimilar in the first European markets is expected in July, the company said.
In June, Alvotech and its Israeli partner Teva Pharmaceutical had reached a settlement and licensing agreement with J&J for the launch of the biosimilar, AVT04, no later than Feb. 21, 2025, if it gets U.S. FDA approval.
(Reporting by Leroy Leo in Bengaluru; Editing by Shounak Dasgupta and Shilpi Majumdar)
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