On 21 August 2026, Alvotech and Lotus Pharmaceutical announced that they have entered into a licensing and commercialisation agreement for Alvotech’s AVT34, biosimilar to AstraZeneca’s Imfinzi® (durvalumab), and AVT87, biosimilar to Roche/Genentech’s Hemlibra® (emicizumab), in the US and across eight Asian markets.
The agreement reportedly has a potential value for Alvotech of up to approximately US$150 million, based on upfront and milestone payments and ongoing revenues from the supply of commercial product.
Under the agreement, Taiwan-based Lotus has semi-exclusive commercialisation rights in the US, and exclusive commercialisation rights in South Korea, Taiwan, Thailand, Vietnam, the Philippines, Singapore, Hong Kong and Malaysia.
Under the semi-exclusive agreement for the US Alvotech will commercialise both AVT34 and AVT87 in parallel to Lotus, with Lotus commercialising the products through its US-based wholly-owned subsidiary, Alvogen. Alvotech is responsible for development and marketing authorisations in the US, while Lotus has responsibility for local regulatory submissions and commercialisation in Asia.
Alvotech and Alvogen were each founded by Robert Wessman who remains the Chairman of both companies. Alvogen was acquired by Lotus in December 2025. Robert Wessman is the Chairman of the Board of Lotus.
Biosimilar development of durvalumab is at a very early stage globally, with Alvotech’s AVT34 being the first announced therapeutic durvalumab biosimilar in development.
Biosimilar emicizumab is being developed by CSPC Pharmaceutical Group, which announced in March 2026 that China’s National Medical Products Administration had approved clinical trials for its biosimilar emicizumab (SYS6053). Prestige BioPharma also has a preclinical emicizumab biosimilar in its pipeline.