Alvotech Has Settled With Johnson & Johnson For Certain Markets For AVT04, A Biosimilar To Stelara (Ustekinumab), Market Entry Of AVT04 In Canada Is Expected In Q1 2024, With May 2024 For Japan, And Later July 2024 For First European Markets
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Alvotech has reached a settlement with Johnson & Johnson regarding the market entry of AVT04, a biosimilar to Stelara, in certain markets. AVT04 is expected to enter the Canadian market in Q1 2024, Japan in May 2024, and the first European markets in July 2024. Regulatory approval for AVT04 has been granted in these regions, with applications pending in additional markets, including the U.S.
February 15, 2024 | 11:38 am
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Johnson & Johnson's settlement with Alvotech regarding AVT04 allows for controlled market entry of a biosimilar to one of its products, Stelara, in Canada, Japan, and Europe. This could impact J&J's market share and revenues from Stelara in these regions.
While the settlement allows J&J to manage the entry of a competing product, it may lead to decreased market share and revenues for Stelara in the agreed regions. The impact is significant but moderated by the fact that J&J is a diversified healthcare giant.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alvotech's settlement with Johnson & Johnson for AVT04's market entry in Canada, Japan, and Europe marks a significant milestone. With regulatory approval already secured in these regions, Alvotech is poised for growth as it expands AVT04's global footprint.
The settlement with Johnson & Johnson allows Alvotech to enter significant markets without legal hurdles, potentially boosting its revenue and market share. The regulatory approvals further solidify its position, making this news highly relevant and important for Alvotech's investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100