Alvotech Partners With LOTTE Biologics to Expand US Biosimilar Output
Alvotech and LOTTE Biologics announced a long-term manufacturing deal at a Syracuse facility to boost global biosimilar production capacity.
Alvotech (NASDAQ: ALVO) and South Korea-based LOTTE Biologics have entered a long-term manufacturing partnership focused on biosimilar drug production at a facility in Syracuse, New York, the companies announced Tuesday. The agreement is designed to strengthen Alvotech's international manufacturing footprint as demand for lower-cost biological medicines continues to grow.
Reykjavík-headquartered Alvotech specializes in the development and manufacture of biosimilars — biological drugs engineered to closely replicate approved reference medicines — and serves patients across global markets. LOTTE Biologics brings contract biologics manufacturing expertise to the collaboration.
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The deal represents a strategic move by Alvotech to diversify its production base beyond its Icelandic operations and deepen its presence in the United States market, where regulatory approvals and competitive pricing for biosimilars have accelerated in recent years. Partnering with an established contract manufacturer in Syracuse positions the company to meet anticipated demand without bearing the full capital burden of building new facilities.
For LOTTE Biologics, the partnership extends its footprint into the US biologics supply chain, reinforcing the Syracuse site as a node in a broader international network. Terms of the agreement, including financial details or volume commitments, were not disclosed in the announcement.
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