Advanz Pharma ("Advanz") and Alvotech announced that they entered an exclusive partnership agreement regarding supply and commercialization of five biosimilars in Europe, with Alvotech responsible for the development and commercial supply of the biosimilars, and Advanz responsible for registration and commercialization in Europe. Per the announcement, the agreement includes proposed biosimilars to SIMPONI® (golimumab) and ENTYVIO® (vedolizumab) and three undisclosed, early stage biosimilar candidates. According to IQVIA, the current market for the se five biosimilars covered by the agreement, within the markets covered by the agreement, exceeds $4 billion. Furthermore, this recent agreement builds upon a previous collaboration between the two companies. In February, Advanz and Alvotech entered an agreement to commercialize AVT23, a proposed biosimilar to XOLAIR® (omalizumab).