Alvogen today announced it has launched the first generic version of the cancer drug VelcadeTM (Bortezomib) in Bulgaria. The drug will be marketed under the brand name VortemyelTM. Following the launch in Bulgaria, VortemyelTM will also be rolled-out across several other Central and Eastern European markets.
Bortezomib, is the first therapeutic proteasome inhibitor anticancer drug, used for a targeted treatment of multiple myeloma and mantle cell lymphoma. VelcadeTM is Millennium Pharmaceuticals/Janssen Cilag’s reference product, which recorded sales of over US$200 million in 2014 in Central and Eastern European.
There is a high level of penetration for generic drugs in Central and Eastern Europe, which Alvogen is well-placed to capitalize on through its leading product portfolio, extensive geographic reach in addition to its pool of licensing partners, state-of-the-art manufacturing facility and a regional packaging center. Across the region Alvogen has built a strong portfolio of generics for hospital and retail channels, a growing offering of over-the-counter products and a robust portfolio of biosimilars.
Petar Vazharov, Executive Vice President at Alvogen in the CEE region, commented:
"We are excited to be the first company to offer cancer patients and health care providers in Bulgaria the generic version of VelcadeTM, delivering on our mission to increase local access to high quality generic pharmaceuticals. VortemyelTM represents an important milestone for our injectable anti-cancer portfolio. It offers a more affordable – but equally effective - treatment option for cancer patients, delivering compelling cost saving opportunities for health insurance system in CEE region.