Pharma BD Deal Intelligence

Lotus Pharmaceutical Co., Ltd. / Alvotech

2026 · Licensing/Option · $150M · Complete

Alvotech entered a strategic licensing and commercialization agreement with Lotus Pharmaceutical for AVT34, a proposed biosimilar to Imfinzi (durvalumab), and AVT87, a proposed biosimilar to Hemlibra (emicizumab), covering the United States and eight selected Asian markets. The agreement carries potential value of approximately $150 million in upfront and milestone payments plus ongoing supply revenues. The U.S. arrangement is semi-exclusive: Alvotech retains the right to commercialize both products directly alongside Lotus, which will market through its U.S. subsidiary Alvogen. Lotus holds exclusive commercialization rights in the eight Asian markets. Alvotech remains responsible for development and U.S. marketing authorizations and is exclusive supplier across all markets.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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