Our sister company Alvotech and JAMP Pharma have entered into an agreement for an exclusive partnership to supply and commercialize five leading biosimilar candidates in the Canadian market. The current market value of the branded sales for these biosimilars is estimated to exceed $2 billion annually.
Mark Levick, Alvotech’s Chief Executive Officer commented: "We are very excited and proud to announce our partnership agreement with JAMP. With JAMP’s strong commercial background and experience within the Canadian market, we have further opened our network to help realize our continued goals, which is to benefit patients and give them access to high quality biosimilar medicines. We look forward to working with JAMP in achieving our milestones and setting a new standard in biosimilars.”
The partnership agreement includes the exclusive rights for JAMP Pharma to commercialize Alvotech’s biosimilars in Canada, leveraging JAMP’s strong sales and marketing capabilities and experience in successfully bringing new biosimilars to the fast-growing Canadian market. Under the terms of the agreement, Alvotech will be responsible for full development and commercial supply of the biosimilars from their new state-of-the-art manufacturing facility in Reykjavik, Iceland.
Louis Pilon, CEO of JAMP Pharma Group added: “We are thrilled with this partnership, as it will allow the JAMP Pharma Group to become a major player and partner in this market while continuing to expand our traditional generic portfolio, which should surpass 500 products by 2022. We now have six biosimilars in our short-term new product pipeline, and this will have a positive impact on both the company’s future and patient access to these important medicines. The JAMP Pharma Group continues to be driven by our desire to offer more affordable options to Canadian patients.”
Alvotech‘s initial pipeline contains several biosimilar monoclonal antibodies and fusion proteins aimed at treating severe immune and inflammatory conditions, oncology and ophthalmology. The biosimilars will improve both access and the quality of life for patients around the world. Alvotech’s fully vertically integrated platform can support new products each year which will create a substantial portfolio of high quality, high value products.
About JAMP Pharma
JAMP Pharma is a privately-owned Canadian company with its head office in the Montreal area. Experiencing a sustained phenomenal growth for more than 10 years, JAMP Pharma has a portfolio with more than 240 molecules and is the leader in product launches in the generic pharmaceutical industry in Canada*. JAMP Pharma is also growing through a diversified portfolio of brands: vitamins, supplements and natural health products from Wampole and Laboratoire Suisse and branded prescription products from Orimed Pharma.