Efgan Dengur - YHL Director BD, Ashraf Radwan – CEO Yas Healthcare, Robert Wessman – Chair & CEO of Alvogen/Alvotech, Murshed Al Redaini – YHL Group CEO and Anil Okay VP BD Alvogen/Alvotech announce Yas Holding and Alvotech partnership at the Convention of Pharma Industry in Frankfurt Germany, 5 Nov 2019.
Yas Holding, has acquired a 2.5% stake in Alvotech and signed an agreement for an exclusive partnership and supply of some of their specialized products, which we will commercialize in the MENA region. The total partnership value, including the purchase of new shares, an upfront license payment, along with subsequent milestone payments is estimated to be around $45 million. Alvotech is at the cutting edge of the bio-pharmaceutical industry and our investment will complement both our existing portfolio, and further planned expansion into the health and pharmaceutical sectors in the MENA region. Alvotech‘s initial pipeline contains several monoclonalantibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions. For more information on Alvotech see: www.alvotech.com www.alvotech.com