Changchun High & New Forms $200 Million Biosimilar JV with Alvotech of Iceland
publication date: Sep 21, 2018
Changchun High & New Technology formed a $200 million China biosimilar JV with Alvotech, an Icelandic biotech. Changchun will fund the JV with $100 million while Alvotech will contribute $10 million plus six drug licenses valued at $90 million. The permits to use these products will last for five years. Alvotech, founded in 2013, is a sister company to Alvogen, a US generic pharma. Alvogen is majority owned by CVC Capital Partners, an EU-Asian PE firm, and Temasek, the sovereign wealth fund of Singapore. More details....
Stock Symbol: (SZ: 000661)
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