Di Zhao's questions to Alvotech SA (ALVO) leadership • Q1 2025
Question
Di Zhao from UBS inquired about Alvotech's Stelara biosimilar, focusing on the mechanics of interchangeability exclusivity, potential competition from Sandoz, and the expected timeline for PBMs to remove the branded drug from formularies.
Answer
Anil Okay, Chief Commercial Officer, explained that the exclusivity for the first interchangeable biosimilar expired on April 30, 2025, and while Alvotech expects some competitors to eventually gain interchangeability, their recent designation is a positive driver for faster uptake. He noted that discussions with private label partners are ongoing and that any PBM decision to exclude the brand Stelara would create a significant opportunity for biosimilars.