Alvotech, LOTTE Biologics Sign US Manufacturing Deal for Biosimilars
Alvotech and LOTTE Biologics have agreed to produce multiple biosimilar products at a New York facility, expanding global supply capacity.
Alvotech and LOTTE Biologics have entered into a US-based manufacturing agreement covering multiple biosimilar products, the companies announced. The collaboration marks a significant step in scaling up production capacity for the global biosimilars market.
Under the terms of the agreement, biosimilar products will be manufactured at LOTTE Biologics' facility in Syracuse, New York. The partnership is designed to strengthen the supply chain for biosimilars, which are lower-cost alternatives to brand-name biologic drugs.
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The agreement reflects a broader industry trend toward securing domestic manufacturing capacity for biologic medicines, a priority that has gained urgency following supply chain disruptions in recent years. Locating production in the United States also positions both companies to serve the American market more efficiently.
Alvotech, a global biopharmaceutical company focused exclusively on biosimilar development and manufacturing, gains additional production scale through the deal. LOTTE Biologics, the life sciences arm of South Korea's LOTTE Group, brings contract manufacturing expertise and an established US footprint to the collaboration.
The announcement signals continued investment in domestic biologics infrastructure at a time when US policymakers and industry leaders have emphasized the importance of reducing dependence on overseas pharmaceutical manufacturing. Continue reading at GlobeNewswire - Industry News on Financial Services.
