Alvotech generates $40 million in revenue for the first half of 2022

In its own first-half 2022 earnings report, Alvotech announced who its revenue reached $40.1 million, largely driven near to Canadian also European launches made from belonging to it biosimilar adalimumab (AVT02) referencing Humira.

A period lasted from January 1, 2022 toward June 30, 2022. During a same period one annual period earlier, the biosimilars company pureplay generated $2.0 million within revenue.

AVT02’s revenue accounted for $3.9 million out of total revenue. Each remaining $36.2 million showed up via licensing also milestone payments related toward major clinical programs for AVT04, a ustekinumab biosimilar referencing Stelara.

Compared up to any initial 6 months belonging to 2021 ($90.4 million), research as well as development costs were $86.9 million during the same period within 2022. Alvotech replied any decrease was due to costs pre-commercial manufacturing costs who are right now classified at a lower level cost belonging to product revenue. A cost from product revenues for a foremost half belonging to 2022 was $17.8 million.

AVT02 was approved for the Canadian market within January 2022, at which place something is marketed as Simlandi. Amid early June 2022, Alvotech, by means of its own partnership with STADA Arzneimittel, launched AVT02 beneath a name Hukyndra within France, Germany, Finland and Sweden. Biologics license applications for approval plus interchangeability out of AVT02 are currently at a lower level review with certain FDA.

As well in June, shares made from Alvotech officially debuted on each Icelandic along with Us stock markets.

“We own achieved a amount belonging to crucial milestones since ourselves foremost announced ours intention in order to enter a public markets; launching belonging to us first biosimilar in Europe and Canada, advancing several biosimilar candidates throughout clinical trials, and transitioning starting at some private toward single publicly traded company among certain United States along with Iceland,” replied Robert Wessman , founder as well as executive chairman out of Alvotech, in one statement. .

Amid addition to AVT02 also AVT04, Alvotech is publicly working on 3 additional biosimilars: single aflibercept biosimilar referencing Eylea (AVT06), single denosumab biosimilar referencing Prolia/Xgeva (AVT03), also single omalizumab biosimilar referencing Xolair (AVT23).