Document:

EX-10.16

 Exhibit 10.16 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF
PUBLICLY DISCLOSED. THE OMISSIONS HAVE BEEN INDICATED BY “[***].” 
 EXECUTION VERSION

PRODUCT SUPPLY AGREEMENT 
 This Product
Supply Agreement (this “Agreement”) is entered into as of August 5, 2020 (the “Effective Date”) by and between Alvotech Hf., a corporation organized under the laws of the Iceland, having its principal place of
business at Saemundargotu 15-19, 101, Reykjavik, Iceland (“Alvotech”) and Teva Pharmaceuticals International GmbH, a company organized under the laws of Switzerland, having its principal place
of business at Schlüsselstrasse 12, Rapperswil–Jona 8645, Switzerland (“Teva”). Each party shall be referred to individually as a “Party” and collectively as “Parties”. 

RECITALS 
 A. Alvotech will develop and
manufacture the drug substances and drug products AVT02, AVT04, AVT05, AVT06 and AVT16, which are respectively at the date of this Agreement proposed biosimilars to the Reference Products
Humira®, Stelara®, Simponi®, Eylea®, and Entyvio®; 
 B. Alvotech is the sole and
exclusive holder of the commercialization and distribution rights for AVT02, AVT04, AVT05, AVT06 and AVT16 in the Territory; 
 C. Teva is engaged in the
business of, and has expertise in, among other things, the sales and marketing of pharmaceutical drugs and biological medicinal products; 
 D. Alvotech and
Teva have entered into that certain License and Development Agreement dated as of August 5, 2020 as to the Products in the Territory (“LDA”); and 

E. Teva desires to purchase the Products from Alvotech and Alvotech desires to supply the Products to Teva on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 
  

	1.	 DEFINITIONS 

All capitalized terms used in this Agreement, unless otherwise defined in this Agreement, shall have the respective meanings set forth in the LDA. 

“Alvotech Facility” means the plant in Iceland where the Product is Manufactured, Packaged and Labelled (or such alternative facility as is
determined by Alvotech in accordance with Section 9.1). 
 “Alvotech US” means Alvotech USA Inc., a Virginia corporation whose principal
place of business is at 1201 Wilson Blvd., Ste. 2130, Arlington, VA, 22209, a wholly owned direct subsidiary of Alvotech Hf.
 “Authorized Materials
Inventory” has the meaning set forth in Section 2.4. 
 “Authorized Packaging Materials Inventory” has the meaning set forth
in Section 2.3. 
 “BLA Approval” has the meaning set out in the LDA. 

“Certificate of Analysis” means the certificate of analysis included in each shipment of a Product to Teva from Alvotech, which certificate
of analysis shall include information demonstrating the testing of each batch of Product by Alvotech’s quality assurance personnel in accordance with the Quality Agreement. 

 “Certificate of Conformance” means the certificate of conformance included in each shipment
of a Product to Teva from Alvotech, which certificate of conformance shall certify that each batch of Product was manufactured in accordance with Applicable Law, including, without limitation, cGMP. 

“cGLP” shall mean current good laboratory practices for conducting laboratory studies with respect to a Product in conformance with good
laboratory practice as specified by the FDA. 
 “cGMP” means, to the extent applicable for the Manufacture of the Product, applicable
standards relating to current good manufacturing practice as specified by the FDA for the USA. 
 “Change Action Plan” has the meaning set
forth in Section 8.2. 
 “Combination Product” means a product comprised of any combination of a drug and a device; a device and a
biological product; a biological product and a drug; or a drug, device, and a biological product, all as defined in 21 CFR 3.2(e). 

“Components” means, with respect to each Product, all components to produce pre-packaged bulk Product,
such as bottles, caps, cartridges, syringes, needles, devices, vials, ampoules, rubber stoppers, subassemblies, and such other components necessary for producing pre-packaged bulk Product in accordance with
the Specifications, but excluding Packaging Materials. 
 “Customer Penalties” has the meaning set forth in Section 7.2. 

“Delivery Terms” means, in respect of the Product, [***] or as the Parties may otherwise agree in writing from time to time, and
“Deliver”, “Delivery” and “Delivered” shall be construed accordingly as applicable. 

“EOC” has the meaning set forth in Section 2.4. 

“FEFO” has the meaning set forth in Section 2.4. 

“Force Majeure Event” has the meaning set forth in Section 14.1. 

“Labeling” means the labeling and package inserts necessary for producing Product hereunder in accordance with the Specifications. 

“Latent Defect” has the meaning set forth in Section 4.4. 

“LDA Payments”, with respect to a Product, means [***] U.S. Dollars ($[***]) plus all Milestone Payments paid by Teva for such Product as of
(a) in case of a termination of such Product by Alvotech in relation to Section 6.4 herein, the date of such of termination and (b) in the case of a Material Delivery Delay, the date of such Material Delivery Delay. 

“Manufacture” means all the activities relating to production of each Product in final form, including production, manufacture, quality
control, testing, filling, finishing, and quality assurance, packaging and Labelling, and release for shipment, each in accordance with the Quality Standards. “Manufacturing” and “Manufactured” shall have
correlative meanings. 
 “Material Delivery Delay” has the meaning set forth in Section 7.3. 

“Materials” means, collectively as applicable, any materials, Components and Packaging Materials used or proposed to be used in the
Manufacture of a Product in accordance with its Specification. 
 “MOQ” has the meanings set forth in Sections 3.2(d) and 3.2(e), as
applicable. 
 “MQ Year” has the meaning set forth in Section 6.1(b). 

“Non-Conforming Product” means any Product that fails to meet applicable Quality Standards, contains
some other defect or deficiency, or is adulterated. 
 “Packaging Materials” means the materials utilized to package Product in fully
packaged form, including without limitation, blister packs, Labeling, and such other packaging materials necessary for packaging bulk Product into fully packaged Product in accordance with the Specifications. 

“Pharmacovigilance Agreement” means the agreement between the Parties detailing the division of responsibilities relating to
pharmacovigilance, including the Parties’ obligations with respect to Product complaints and adverse event reporting. 

  
 2 

 “Product” shall have the meaning set forth in the LDA, but shall for the purposes of this
Agreement be construed to mean the formulations, presentations, concentrations, dosage forms or strengths, forms of administration, dosing or dosage regimens, or administration regimen (i) for AVT02, as described in Schedule 1 and (ii) for
AVT04, AVT05, AVT06 and AVT16, as shall be agreed by the Parties, acting in good faith, prior to submission of the BLA for each such product. 

“Product Supply Term” means in respect of each Product the time period in respect of which manufacturing and supply obligations continue in
force under this Agreement as determined in accordance with Section 13. 
 “Quality Agreement” has the meaning set forth in
Section 11.1. 
 “Quality Assurance Liaison” has the meaning set forth in Section 11.9. 

“Quality Standards” has the meaning set forth in Section 8.1. 

“Reasonably Anticipated Material Delivery Delay” has the meaning set forth in Section 7.3(g). 

“Scheduled Delivery Date” means, for each Product, the date set forth in confirmed (including deemed to have been confirmed) purchase orders
issued by Teva for Delivery of a shipment of the Product. 
 “Shortage” has the meaning set forth in Section 7.1. 

“Specifications” means, on a Product-by-Product basis, the
specifications for such Product as set forth in the applicable BLA Approval, which are hereby incorporated by reference into this Agreement. 

“Supply Failure” has the meaning set forth in Section 7.1. 

“Taxes” means (a) any and all federal, state, local, or foreign taxes, assessments, charges, duties, fees, imports, levies or other
charges (including interest, penalties or additions associated therewith) from any governmental entity, including income, franchise, capital stock, real property, personal property, tangible, withholding, employment, payroll, social security (or
similar tax), social contribution, unemployment compensation, unclaimed property escheat, disability, transfer, sales, bulk sales, use, excise, license, occupation, registration, stamp, premium, environmental, customs duties, alternative or add-on minimum, estimated, gross receipts, value-added (“VAT”), ad valorem, profits, estimated, and all other taxes of any kind for which the Parties may have any liability imposed by any
governmental entity, whether disputed or not, and any charges, interest or penalties imposed by any governmental entity, and (b) any liability in respect of any items described in clause (a) payable by reason of contract, assumption,
transferee liability, operation of law, Treasury Regulations section 1.1502-6(a) (or any predecessor or successor thereof or any analogous or similar provision under Applicable Law) or otherwise. 

“Term” has the meaning set forth in Section 13.1. 

“Teva Supplier Code” has the meaning set forth in Section 10.1(a). 

“Transfer Price” has the meaning set forth in Section 5.3(m). 
  

	2.	 MANUFACTURING, PACKING & LABELING, AND
SUPPLY OF PRODUCT 

  

	 	2.1	 Manufacture. Alvotech shall in respect of each Product and during that Product’s respective Product
Supply Term on and subject to the terms of this Agreement (i) Manufacture and supply each Product exclusively in the Territory for and to Teva and its Affiliates for the Marketing of such Product in the Territory, and (ii) subject to
Article 3, fully meet purchase orders for the Product that have been accepted or deemed accepted by Alvotech in accordance with Section 3.2. 

  
 3 

	 	2.2	 Product Packaging, Labeling and Shipping Documents. [***]. 

 

	 	2.3	 Packaging and Labeling Costs. Teva shall reimburse Alvotech’s (or its Affiliate’s) costs (in
all cases, without markup) relating to Packaging or Labeling materials which were purchased or ordered for Teva’s demands of the Product as specified in the first [***] months of a forecast made in accordance with Section 3.1
(“Authorized Packaging Materials Inventory”), which can no longer be used due to a change in artwork requested by Teva pursuant to Section 8.3; provided, however, in the event of a chinange falling within the scope of
Section 8.2 resulting in a change of artwork, any such costs relating to the Authorized Packaging Materials Inventory shall be allocated between the Parties in accordance with Section 8.2. 

 

	 	2.4	 Management of Inventory and Stock of Materials. Alvotech shall be responsible for purchasing and
maintaining at the applicable Alvotech Facility such Materials (other than Packaging Materials) as are required for Alvotech to Manufacture and supply each Product in sufficient quantities necessary to satisfy Teva’s purchase orders pursuant to
Section 3.2c) (“Authorized Materials Inventory”). [***]. The cost and expense (in all cases, without markup) for expired Materials shall be solely [***] responsibility, save that (a) in the event of a change falling within
the scope of Section 8.2, the cost and expense for Authorized Materials Inventory shall be allocated between the Parties in accordance with Section 8.2 and (b) [***] shall reimburse [***] for [***]. 

 

	 	2.5	 Subcontractors. Schedule 2.5 attached hereto sets forth each subcontractor as of the Effective
Date that has been engaged to perform any work on behalf of Alvotech under this Agreement. Alvotech may request to appoint a Third Party as an additional subcontractor for the purpose of performing certain of Alvotech’s obligations under this
Agreement. In such event, Alvotech must (a) notify Teva in advance of the proposed appointment; (b) obtain Teva’s prior written consent for any subcontractor appointment (other than an Affiliate, but in each case subject to
Section 8.1), which consent shall not be unreasonably withheld or conditioned; (c) obtain from the subcontractor (including any Affiliate which is a subcontractor) its agreement to comply with the terms and conditions of this Agreement to
the same extent as Alvotech relevant to the activities to be performed by the subcontractor; (d) monitor all such subcontractors to ensure compliance with the Quality Standards, the Anti-Corruption Laws and Principles and Teva Supplier Code;
and (e) remain responsible for the performance of these activities, and liable for any failure of the subcontractor to perform the activities in accordance with this Agreement, whether arising from such subcontractor’s breach, negligence,
gross negligence or wilful misconduct, as if Alvotech was performing the subcontracting activities itself. Alvotech shall carry out the reconciliations, checks and testing as are necessary or reasonable to verify the integrity of the work carried
out by each subcontractor. Subcontracting shall not release Alvotech from responsibility for its obligations under this Agreement, including, without limitation, timely delivery of any shipment of Product. Any and all costs and expenses arising from
or related to the appointment of a subcontractor by Alvotech shall be borne solely by Alvotech. 

  
 4 

	3.	 FORECASTS, RELEASE, PURCHASE ORDERS,
DELIVERY AND STORAGE 

  

	 	3.1	 Forecasts. No later than [***] calendar months prior to the anticipated date of Launch of each Product,
Teva shall provide its first non-binding forecast of its estimated requirements of Product to Alvotech for the period up to [***] months following the anticipated date of Launch. Thereafter, on a quarterly
basis, Teva shall provide Alvotech an [***]-month non-binding rolling forecast for its anticipated requirements for such Product. 

 

	 	3.2	 Purchase Orders. 

 

	 	(a)	 Submission of Purchase Order for Launch Quantities of Product. No later than [***] months prior to the
date of Teva’s desired initial Delivery of commercial Launch quantities of a Product from an Alvotech Facility, Teva will provide to Alvotech a binding purchase order for its expected requirements of such Product from Alvotech for the period of
[***] months starting from Launch. 

  

	 	(b)	 Teva’s Submission of Subsequent Purchase Orders. By no later than [***] months following the
submission by Teva of its initial purchase order for a Product pursuant to subsection a above, Teva shall issue, to the extent applicable, its subsequent binding purchase order for the next three calendar months’ supply of the Product,
and shall similarly continue to do so thereafter for each [***] months’ period during the remainder of the Product Supply Term. 

  

	 	(c)	 Purchase Order and Delivery Requirements. Teva’s purchase orders for each Product shall be
Delivered by Alvotech within [***] months of the date of submission by Teva of such purchase order. Each purchase order shall set forth the quantity of the Product ordered, the Scheduled Delivery Date, and the destination for Delivery of such order,
all in accordance with applicable timelines set forth in this Agreement. Each purchase order issued by Teva for a Product to be delivered shall not deviate (above or below) by more than [***] percent ([***]%) from the quantities of that Product set
forth in the most recently delivered rolling forecast for that Product. Alvotech shall confirm receipt of a purchase order within [***] Business Days and shall accept all purchase orders to the extent that such purchase orders fall within the
foregoing deviation ranges, as applicable, of the quantities of such Product set forth in the most recently delivered rolling forecast for the applicable period and all other requirements of this Section 3.2 and Schedule 3.2, provided that if
(a) any such purchase order meets all such requirements, (b) Alvotech has failed to acknowledge it within the required period and (c) further that Teva has checked that its purchase order has been received by Alvotech, then such
purchase order will be deemed to have been accepted as a confirmed purchase order. Teva may deliver to Alvotech a purchase order for quantities of each Product in excess of the percentage variances permitted in this paragraph (c) (such quantities,
to be referred to as “Excess Quantities”). Alvotech shall be obligated to [***] provide such Excess Quantities of Product and will provide written notification to Teva as soon as practicable, but in any event within [***]
Business Days after Teva’s delivery of the applicable purchase order, confirming the amount of Excess Quantities of the Product that Alvotech determines it will be able to deliver to Teva, and Alvotech will then be obligated to supply such
excess quantities confirmed in the written notification. For the avoidance of doubt, it shall not be commercially reasonable for Alvotech to supply in excess of [***] percent ([***]%) of the quantities of such Product forecasted for the first [***]
months of the latest applicable rolling forecast for that Product unless Alvotech agrees to do so in its sole discretion. 

  
 5 

	 	(d)	 Minimum Order Quantity (“MOQ”) – AVT02. The MOQ for the Product AVT02 shall be for [***]
units of the Product. This MOQ can be split between different SKUs of the Product AVT02 representing the different dosage forms of the Product. Teva shall use Commercially Reasonable Efforts to ensure that the following SKUs in a split order are at,
or as near as possible to, a minimum of [***] units of the Product: [***] and [***]. Remaining SKUs may be ordered at quantities less than [***] units. All orders for the Product AVT02 shall be for a MOQ as stated in this paragraph or a multiple of
such MOQ, divisable among applicable SKUs. In the event Teva has a need to order a quantity less than the MOQ for AVT02, Alvotech will use Commercially Reasonable Efforts to respond to such need by splitting a batch with other customer demands, or
taking other action that may be reasonably available. 

  

	 	(e)	 MOQ – other Products. The MOQ for all Products other than AVT02 shall be such minimum number of units of
Product (between [***] and [***] units) as is mutually agreed in writing by the Parties (each acting in good faith) prior to submission of the relevant Product’s BLA. [***]. 

 

	 	(f)	 Adjustment to Order Quantities. Alvotech is entitled to supply up to [***] ([***]%) of the quantity of a
Product as ordered by Teva. Notwithstanding anything to the contrary in this Agreement, as a result of Alvotech supplying more units of that Product than were ordered by Teva, Teva may adjust the quantities in its next-issued purchase order for that
Product to reduce or increase quantities accordingly, irrespective of the quantities set forth in the most recent rolling forecast for the applicable period. 

  

	 	(g)	 Order of Precedence. The terms and conditions of this Agreement shall prevail if the terms and
conditions stated in any order(s) or in any other communication from Teva or Alvotech relating to the order (unless specifically accepted by the other party in writing) are inconsistent with these terms and conditions. 

 

	 	(h)	 Changes in Market for Product. If there are any significant changes in the market dynamics for a Product
that could materially adversely affect the sales of a Product in the Territory, then Teva will have the right to cancel or modify any purchase order for that Product, provided that Teva notifies Alvotech in writing of its intention to cancel or
modify a purchase order at least [***] days in advance of the Scheduled Delivery Date of the applicable shipment of the applicable Product under such purchase order. If Teva cancels or modifies a purchase order, as permitted above, Teva will
pay for (i) all of the Product under such cancelled or modified purchase order that was Manufactured by Alvotech prior to the date of cancellation or modification, at Alvotech COGS (as defined herein), that cannot be sold to Teva under a future
purchase order; (ii) all of the Materials ordered or purchased by Alvotech that (A) cannot be used in future manufactured quantities of that Product, (B) cannot reasonably be used by Alvotech for other purposes, (C) cannot be
returned to the applicable supplier without payment therefor or incurring cost, or (D) were purchased by Alvotech under purchase orders that cannot be cancelled; (iii) any reasonable, documented costs and expenses for any work-in-progress for Product 

  
 6 

	 	
manufactured under the applicable purchase order prior to order cancellation or modification; and (iv) the cost of destruction of the Product, work-in-progress and Materials to the extent any become obsolete prior to use. Teva may not cancel or modify more than [***] percent ([***]%) of purchase orders in respect of any Product in any [***] month
period during the Term. 

  

	 	3.3	 Shipping. Alvotech is required to obtain and maintain [***]. Alvotech shall notify Teva in writing at
least [***] Business Days prior to any delivery, and Deliver the Products in accordance with the Delivery Terms. Alvotech shall comply with [***]. All means of transportation, including for air freight and sea freight, must be qualified including
Risk Assessment (according to ICH Q9) and processes must be validated as per US Guideline 1079 and EU GDP 2013/3.4.3/01; GMP related software must be validated as well. 

 

	 	3.4	 Shelf Life. All quantities of a Product at the Scheduled Delivery Date shall have the greater of (i)
[***] percent ([***]%) of its remaining approved shelf life or (ii) [***] months of remaining approved shelf life; provided, however, in no event shall the remaining shelf life of any Product be [***] months or more below the maximum approved shelf
life for such Product. 

  

	 	3.5	 Finished Form. The Products shall be supplied by Alvotech to Teva in fully-packaged, finished form,
inclusive of all Materials referenced in the applicable BLA Approval, and ready for commercialization within the Territory. 

  

	 	3.6	 Title and Risk of Loss. Title to and risk of loss of all Products shall pass to Teva upon Delivery of
the Product. Alvotech shall be solely responsible for clearing such shipments for export from the Alvotech Facility and bear responsibility for reasonable export clearance expenses. 

 

	4.	 Acceptance and Rejection. 

 

	 	4.1	 Certificate. Teva shall be under no obligation to accept any shipment of the Product for
which Alvotech has not provided a Certificate of Analysis and a Certificate of Conformance. Teva shall visually inspect all shipments of the Product within [***] days of receipt, and Teva may reject all or any portion of any such shipment that is
nonconforming. In order to reject Delivery of a shipment of the Product, Teva must give written notice to Alvotech of Teva’s rejection of any Delivery specifying in reasonable detail the reasons for such rejection within [***] days after
Teva’s receipt of the shipment of Product and the corresponding Certificate of Analysis and Certificate of Conformance, subject in all cases to Teva’s rights with respect to Latent Defects as set forth in Section 4.4 below.

  

	 	4.2	 Rejection and Replacement; Root Cause Analysis. [***]. 

 

	 	4.3	 Disposal of Non-Conforming Product. Teva shall not
destroy any rejected Product until it receives written notification from Alvotech that Alvotech does not dispute that the rejected Product is nonconforming or, if applicable, the Joint Committee or the independent Third Party expert and/or
laboratory rules that the Product in question is Nonconforming Product. At Alvotech’s election and upon instruction from Alvotech, Teva shall either (a) destroy the Product received in the rejected delivery promptly at Alvotech’s cost
and provide Alvotech with certification of such destruction, or (b) return such Product for destruction to Alvotech, all at Alvotech’s cost. 

  
 7 

	 	4.4	 Latent Defect. Teva shall notify Alvotech within [***] days of discovery of a Latent Defect (as defined
below) of any Product Delivered, and promptly following receipt of timely notice but in any event no later than [***] days after receipt of such notice, Alvotech shall, at Teva’s request, replace such
Non-Conforming Product with conforming Product. For purposes hereof, “Latent Defect” shall mean any failure of a Product to meet the Quality Standards, which failure is not discoverable upon
reasonable physical inspection or testing. Any disputes between the Parties in respect of Latent Defects shall be handled in accordance with Section 4.2 above. 

 

	5.	 PRICE AND PAYMENT 

 

	 	5.1	 Transfer Price for Launch Quantities.  

 

	 	(a)	 Within [***] Business Days of Alvotech US submitting a BLA to FDA for a Product, Alvotech shall provide Teva
with the estimated Alvotech COGS (as defined below) for such Product. Within [***] days of Teva submitting its initial non-binding forecast for Launch quantities for a Product under Section 3.1, Alvotech
shall provide Teva with the updated Alvotech COGS for the Product. Such Alvotech COGS shall apply to the calculation of the Product Cost (as defined below) in Teva’s initial purchase order for Launch quantities of such Product.

  

	 	(b)	 At least [***] days prior to submitting its initial purchase orders for Launch quantities of a Product, Teva
shall provide written notice to Alvotech reporting the components of the Transfer Price calculation, including the Product Cost based upon the latest reported Alvotech COGS pursuant to paragraph (a) above. 

 

	 	5.2	 Transfer Price for Subsequent Purchase Orders.  

 

	 	(a)	 Following Teva’s submission of its initial purchase order for Launch quantities of a Product, Alvotech
shall notify Teva of any changes in the Alvotech COGS for such Product. Any change to the Alvotech COGS for a Product will become effective [***] days after Teva receives such notice from Alvotech, provided, however, that Alvotech shall not be
permitted to change the Alvotech COGS for a Product more than [***] times in any [***]-month period. Without limiting the foregoing, Alvotech shall provide Teva with the then current Alvotech COGS for a Product within [***] Business Days of
Teva’s request. 

  

	 	(b)	 Following the First Commercial Sale of a Product, Teva will have the right to notify Alvotech of any updates to
the Estimated Net Selling Price, and any resulting changes in the components of the Transfer Price, in advance of or contemporaneously with, the submission of any further purchase orders for the quantities of that Product. The Estimated Net Selling
Price applicable to purchase orders will remain in place unless and until Teva provides a written update which Teva will do at least every six months throughout the Product Supply Term. 

 

	 	5.3	 For purposes of this Agreement, the following definitions shall apply: 

 

	 	(a)	 “Audited Party” has the meaning set forth in Section 5.11(a). 

 

	 	(b)	 “Auditing Party” has the meaning set forth in Section 5.11(a). 

 

	 	(c)	 “COGS Certificate” has the meaning set forth in Section 5.11(b). 

  
 8 

	 	(d)	 “Alvotech COGS” means, with respect to a Product supplied to Teva for a Calendar Quarter, and
subject in all cases to the terms and conditions set forth in Section 8.2 herein, Alvotech’s direct costs of [***], in each case in accordance with GAAP, as consistently applied in accordance with Alvotech’s cost accounting procedures
and policies and in the ordinary course of business, [***]. 

  

	 	(e)	 “Estimated Net Sales Advance” means, for each unit of Product Teva purchases from Alvotech, an
amount equal to [***] percent ([***]%) of the Estimated Net Selling Price minus the Product Cost; provided, however, that in no event shall the Estimated Net Sales Advance be lower than the Minimum Net Sales Advance with respect to a period.

  

	 	(f)	 “Estimated Net Selling Price” means, on a Product-by-Product basis, for each unit of such Product Teva purchases from Alvotech, [***]. 

  

	 	(g)	 “Financial Calculations” has the meaning set forth in Section 5.11(a).

  

	 	(h)	 “Margin” means with respect to a Product during a Calendar Quarter, such Product’s Net
Selling Price less: 

 (i) the Transfer Price; 

(ii) [***]; 
 (iii) Teva’s
or its Affiliates’ fully allocated per-unit costs of [***], including without limitation costs attributable to its [***] provided that 

 

	 	(1)	 [***]; and 

  

	 	(2)	 [***]; and 

(iv) [***] percent ([***]%) of Net Selling Price allocated to general and administrative expenses. 

 

	 	(i)	 “Margin Split Event” means, effective upon the earlier of (i) the occurrence of the [***]
or (ii) Teva’s written notification to Alvotech confirming [***] for the Product with respect to a Calendar Quarter will be exceeded by the [***] for the relevant period. 

 

	 	(j)	 “Minimum Net Sales Advance” means an amount equal to [***] percent ([***]%) of Alvotech COGS.

  

	 	(k)	 “Net Selling Price” means the Net Sales for the respective period divided by the total units
of the relevant Product sold for the period. 

  

	 	(l)	 “Product Cost” means, for each unit of Product Teva purchases from Alvotech, Alvotech COGS
plus [***] percent ([***]%). 

  

	 	(m)	 “Transfer Price” means, for each unit of Product for which Teva submits purchase orders from
Alvotech prior to any Margin Split Event, the Product Cost per unit plus the Estimated Net Sales Advance; provided, however, that the Transfer Price with respect to which Teva has submitted purchase orders prior to a Margin Split Event shall never
be less than the Product Cost plus the Minimum Net Sales Advance. 

  
 9 

	 	(n)	 “True-Up Differential” has the meaning set forth in
Section 5.4. 

  

	 	(o)	 “True-Up Report” has the meaning set forth in
Section 5.4. 

  

	 	5.4	 [***] True-Up and Adjustments. Teva will maintain an
ongoing report that tracks the quantities of each Product ordered by Teva and Delivered by Alvotech and sold by Teva or its Affiliates to customers. During the Term, on a [***] basis, beginning with [***] the First Commercial Sale of a Product has
occurred, Teva shall perform a “true up” reconciliation (and shall provide Alvotech with a written report of such reconciliation) comparing the actual Net Selling Price for the Product against the Estimated Net Selling Price and
calculating the consequent differences and necessary adjustment to the Transfer Price. The reconciliation shall be calculated on a per unit basis with respect to the number of units of the relevant Product sold on behalf of Teva or its Affiliates
during such [***] comparing the moving [***] average Transfer Price to the moving [***] average actual Net Selling Price (the “True-Up Differential”); provided, however, with respect the first
[***] in which the True-Up Differential is calculated, it shall be on the basis of the Transfer Price and the actual Net Selling Price applicable for that [***]. The True-Up Differential will then be multiplied by units sold for the respective [***]. If the foregoing reconciliation report shows (a) an underpayment by Teva relative to the Transfer Price, then Teva shall pay
the amount of the difference to Alvotech, or (b) an overpayment by Teva relative to the Transfer Price, then Teva will receive, at its discretion, either (i) a refund of the difference from Alvotech or (ii) a credit in the amount of
the difference against future purchases of any Product or the right to setoff such amount against any other payment obligations of Teva owing to Alvotech in respect of that Product, including with respect to future
true-ups. Within [***] calendar days after the end of each [***] following the First Commercial Sale of each Product, Teva shall submit to Alvotech a report detailing the
True-Up Differential (the “True-Up Report”). Alvotech will issue an invoice conforming to the applicable True-Up
Differential as soon as practicable following its receipt of each True-Up Report. Teva will pay all undisputed amounts for each such invoice within [***] days from the date Teva receives such invoice. 

 

	 	5.5	 Notwithstanding the foregoing, in the event Teva has invoked a Margin Split Event with respect to a Product for
any [***], then, for all purchase orders for Product submitted by Teva after the Margin Split Event: 

  

	 	(a)	 [***]; 

  

	 	(b)	 [***]; 

  

	 	(c)	 [***]; and 

  

	 	(d)	 [***]. 

  

	 	5.6	 Final True-Up and Adjustments. Within [***] months after the
termination or expiration of this Agreement, Teva shall perform a final “true-up” reconciliation (and shall provide Alvotech with a written report of such reconciliation) of the items comprising
deductions from Net Sales. The reconciliation shall be based on actual cash paid or credits issued and shall indicate whether Teva overpaid or underpaid Alvotech with respect to such Product, with Teva’s calculation as to the amount that should
have been payable based on the actual Net Selling Price and quantity of Product, taking into account any Margin Split Event. If the foregoing reconciliation report shows (a) an underpayment by Teva, then Teva shall pay the amount of the
difference to Alvotech within [***] days after the delivery of such report, or (b) an overpayment by Teva, then Teva will receive a refund of the difference from Alvotech within [***] days after the delivery of such report.

  
 10 

	 	5.7	 Invoicing & Payment of the Transfer Price. Pending the true-up according to Section 5.4, all invoices for the Product from Alvotech to Teva shall be priced at the Transfer Price as set forth in the relevant purchase order submitted by Teva Invoices for the Transfer
Price of each Product shall be issued by Alvotech prior to shipment departure, in accordance with Teva’s or its Affiliate’s supplier instructions which shall be provided to Alvotech prior to such shipment. In any event, each invoice shall
include (a) a reference to the purchase order(s) to which the invoice relates, (b) the quantities of the Product that were included in such shipment(s), and (c) the Transfer Price per unit of such Product. Invoices for the Transfer
Price of each Product shall be paid, by wire transfer, within [***] days for Launch quantities of that Product and within [***] days for all units of that Product, in each case, counted from the day of the receipt or scanning of the valid invoice
and required documentation, provided that the actual date of payment shall be the specific predetermined monthly payment run date, on the 10th or 25th day of each month, immediately following the required payment date, or if the 10th or 25th of a
month falls on a non-Business Day, the next Business Day. 

  

	 	5.8	 Example. An example (only) of the way in which the calculation of the supply price for the Product is
intended to operate according to this Article 5 is shown in Schedule 5.8 attached hereto. 

  

	 	5.9	 Refund of Estimated Net Sales Advance as a Result of Product Expiry. In the event any quantity of
Product in Teva’s inventory falls below [***] months of its remaining shelf life, Teva shall provide Alvotech written notice of such event and, at Alvotech’s option, return or destroy (and in the event of destruction, the delivery by Teva
of written notice certifying such event) such quantities of Product. Within [***] days of such return or certification of destruction, Alvotech shall reimburse Teva for the portion of the Estimated Net Sales Advance for such units of Product paid by
Teva as a component of the Transfer Price. 

  

	 	5.10	 Taxes. The Transfer Price represents the entire consideration payable for the Manufacture and supply of
a Product and is inclusive of all Taxes, of whatsoever nature, including, but not limited, to VAT or other indirect taxation, which are now or may hereafter be imposed with regard to the Manufacture and supply of the Products by Alvotech. Alvotech
shall be fully responsible for and shall indemnify Teva for and in respect of any Tax and national insurance (if applicable) contributions and any other liability, deduction, contribution, assessment or claim arising from or made in connection with
the Manufacture and supply of the Product. Teva shall not reimburse VAT or other indirect taxation that Alvotech paid in connection with the Manufacture and supply of the Product.  

 

	 	5.11	 Alvotech Right to Audit and Teva Right to COGS Certificate. 

 

	 	(a)	 Alvotech Right to Audit. Teva will keep complete, true and accurate books and records in accordance with
its accounting standards, with respect to the items described in 5.1 to 5.9, including Teva’s Net Sales (the “Financial Calculations”). Alvotech (the “Auditing Party”) may request, at its initial expense, an
audit of Teva’s 

  
 11 

	 	
(the “Audited Party’s”) Financial Calculations, not to be undertaken more than once in any [***] month period unless for cause, and for a retrospective period not longer
than the immediately preceding [***] months. The Audited Party will permit a reputable firm of independent accountants mutually acceptable to the Parties (which accountants shall not have been hired or paid on a contingency basis and which
accountants shall have experience auditing both specialty and generics biopharmaceutical companies), to have access at the offices of the Audited Party where the relevant information and data are retained, upon reasonable written notice and during
ordinary working hours to such records as may be necessary for the sole purpose of determining compliance with the Financial Calculations. Such accountants shall sign a confidentiality agreement in form and substance reasonably satisfactory to the
Audited Party, and shall not disclose to the other Auditing Party or any Third Party any information reasonably labelled by the Audited Party being audited as being confidential customer information regarding pricing or other competitively sensitive
proprietary information. The Auditing Party will provide, without condition or qualification, the Audited Party with a copy of the report or other summary of findings prepared by such accountants promptly following its receipt of same. If any
amount(s) paid to the Auditing Party was deficient by more than [***] percent ([***]%), then the Audited Party will pay promptly to Auditing Party an amount equal to the deficiency, plus reimburse the Auditing Party for the reasonable and documented
fees and expenses of the independent accountants. If such report shows that Audited Party overpaid, then the Auditing Party will pay promptly to the Audited Party an amount equal to the deficiency. In the event of any dispute between Alvotech and
Teva regarding the findings of any such audit, the Parties shall initially attempt in good faith to resolve the dispute amicably between themselves, and if the Parties are unable to resolve such dispute within a commercially reasonable period of
time, such dispute shall be resolved [***]. 

  

	 	(b)	 Teva Right to COGS Certificate. Teva may request, at Alvotech’s expense, that Alvotech provide to
Teva a certificate that the Alvotech COGS used in the Financial Calculations were accurate, calculated in accordance with GAAP and the terms and conditions of this Agreement, and consistent with Alvotech’s books and records and cost accounting
methodologies consistently applied to other products of Alvotech (“COGS Certificate”), such COGS Certificate not to be provided more than once in any [***] month period unless for cause, and for a retrospective period not longer
than the immediately preceding [***] months. Alvotech will procure that its accountants shall prepare the COGS Certificate. Such accountants shall sign a confidentiality agreement in form and substance reasonably satisfactory to Alvotech, and shall
not disclose to Teva or any Third Party any confidential customer or supplier information regarding pricing or other competitively sensitive proprietary information. If the COGS Certificate indicates any amount(s) paid to Alvotech was deficient by
more than [***] percent ([***]%), then Teva will pay promptly to Alvotech an amount equal to the deficiency. If such report shows that Teva overpaid, then Alvotech will pay promptly to Teva an amount equal to the deficiency, plus reimburse the
Auditing Party for the reasonable and documented fees and expenses of the independent accountants. In the event of any dispute between Alvotech and Teva regarding the findings of any such COGS Certificate, the Parties shall initially attempt in good
faith to resolve the dispute amicably between themselves, and if the Parties are unable to resolve such dispute within a commercially reasonable period 

  
 12 

	 	
of time, such dispute shall be resolved by an accountant from an internationally recognized independent accounting firm that is mutually agreeable to both of the Parties, and such
accountant’s determination shall be binding. In the event that the final report reveals an undisputed underpayment or overpayment, the underpaid or overpaid amount, as applicable, shall be settled promptly by the relevant Party, as applicable,
subject to any late payment penalties pursuant to Section 5.12 below. 

  

	 	5.12	 Late Payment. If Teva defaults in the payment of any invoice by more than [***] days when it is due
under this Agreement, the liability and payment obligation of Teva shall be increased to include interest on such sum from the due date of such payment until the date actual payment is made at the annualized rate of the then prime rate (as reported
in the Wall Street Journal) plus [***] percent ([***]%). 

  

	6.	 MINIMUM QUANTITY PURCHASE OBLIGATION

  

	 	6.1	 In this Section: 

  

	 	(a)	 “Minimum Quantity” means the minimum amount of each Product to be purchased by Teva from
Alvotech for the MQ Year in question being [***] percent ([***]%) of Teva’s applicable estimated sales of the relevant Product as determined in accordance with Section 6.2; and 

 

	 	(b)	 “MQ Year” means the period of [***] months starting on the date of Launch of a Product and
then on each subsequent anniversary of the date of such Launch (with “MQ Year 1” meaning the first such period, “MQ Year 2” the second such period, and so on); provided, however that no MQ Year will be deemed to
occur in the event there are [***] or more Competing Products in addition to the applicable Product sold in the Territory during such [***] period. 

  

	 	6.2	 At least [***] months before the start of each anticipated MQ Year, Teva shall, acting reasonably and taking
into account market conditions, competitors and any other relevant circumstances, provide Alvotech with an estimate of sales (by volume) of the Products from Alvotech for the coming anticipated MQ Year (“MQ Year Sales Estimate”).
For the avoidance of doubt, each MQ Year Sales Estimate is made for the purposes of this Section 6.2 and may or may not coincide with any forecast made according to Section 3.1. Within [***] weeks after receiving the MQ Year Sales Estimate
Teva shall, if Alvotech requests, discuss such MQ Year Sales Estimate with Alvotech and consider any issues as Alvotech believes may be relevant. Teva shall reasonably consider such issues and within [***] days decide and confirm in writing to
Alvotech any revision (or not) to the MQ Year Sales Estimate, based on the issues raised by Alvotech. If Alvotech does not request discussion of the MQ Year Sales Estimate submitted by Teva within the stated time, then Teva’s initial MQ Year
Sales Estimate shall comprise the estimated sales for the purposes of this Section 6. If Alvotech does request such discussion, then the MQ Year Sales Estimate as subsequently notified by Teva to Alvotech following such discussion (revised or
not as the case may be) shall comprise the estimated sales for the purposes of this Section 6. 

  

	 	6.3	 Before Alvotech exercises any right to terminate this Agreement according to Section 6.4, Alvotech shall
notify Teva in writing and within [***] weeks of such notification, Teva shall notify Alvotech to (i) reduce the Minimum Quantity for the applicable Product in the MQ Years or MQ Year concerned to account for any Supply Failures and
(ii) in the case of a Force Majeure Event or competitive impact in the Territory, to include for consideration changes in market conditions and competitive impact for sale of the Product concerned to reach good-faith agreement as to the
reduction to apply to such Minimum Quantity(ies). The parties shall also each use their [***] in good faith to find a mutually acceptable solution. 

  
 13 

	 	6.4	 If, in respect of each Product in [***] consecutive MQ Years during MQ Years 1 to 5 of the Product Supply Term,
or any subsequent single MQ Year, Teva fails to make purchases from Alvotech equal to the applicable Minimum Quantity for the MQ Years or MQ Year concerned (such Minimum Quantity having been reduced, as applicable, according to Section 6.3),
Alvotech shall be entitled by giving six (6) months’ written notice to Teva to terminate this Agreement with respect to the Product, provided that Alvotech (i) shall at all times have acted reasonably in accordance with this Section
before issuing any such notice and (ii) shall first have refunded in full to Teva the following portions of the LDA Payments with respect to such Product: 

 

	 	(a)	 If such termination occurs during MQ Years 2 or 3 of the Product Supply Term, then Alvotech will refund to Teva
[***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; 

  

	 	(b)	 if such termination occurs during MQ Year 4 of the Product Supply Term, then Alvotech will refund to Teva [***]
percent ([***]%) of the LDA Payments made by Teva with respect to the Product; and 

  

	 	(c)	 If such termination occurs during MQ Year 5 or later, then Alvotech will not refund to Teva any amount of the
LDA Payments made by Teva with respect to the Product. 

  

	7.	 FAILURE TO SUPPLY. 

 

	 	7.1	 Supply Failure. Except (i) to the extent of a Force Majeure Event (as defined in
Section 14.1), (ii) as a result of a breach by Teva of its obligations hereunder, (iii) as a result of a recall, market withdrawal, withholding from the market, or other similar action with respect to the relevant Product initiated by Teva
or requested or required by a Regulatory Authority (other than, under this subclause (iii), as a result of Alvotech’s breach of its obligations hereunder), (iv) as a result of Teva’s change, cancellation or modification of a
purchase order other than as expressly provided for under Section 3.2, or (v) as a result of a change pursuant to Section 8.3 or any gross negligence or wilful misconduct on the part of Teva, if Alvotech is unable to deliver to Teva
the full quantities ordered pursuant to a valid purchase order for a Product meeting the Quality Standards by the Scheduled Delivery Date which order has been accepted (or deemed to have been accepted) pursuant to Section 3.2(c) (and including
any mutually agreed variations to such order) (such event, a “Supply Failure”), Teva will, in addition to its other rights and remedies hereunder, have the right to (a) cancel, in whole or in part, the applicable Purchase
Order(s) and any binding portion of the applicable rolling forecast for the Product Alvotech failed to timely deliver and (b) purchase substitute product from an alternate source. For purposes of this Agreement, any quantities of Product not
delivered by the Scheduled Delivery Date will be referred to herein as the “Shortage.” For the avoidance of doubt, timely delivery of Non-Conforming Product will not be deemed delivery by the
Scheduled Delivery Date and therefore will be deemed a Shortage. In the event of a Shortage, Teva will not be required to pay for the Shortage until it is Delivered and the following credit will apply to the Transfer Price of all quantities of
Product set forth in the applicable purchase order. 

  
 14 

 [***] days late: [***]% 

[***] days late: [***]% 
 [***]
days late: [***]% 
 [***] days late: [***]% 

[***] days late: [***]% 
  

	 	7.2	 Customer Penalties. If, in order to avoid interruption in supply due to a Supply Failure, Teva purchases
substitute product or incurs customer fines or penalties as a result of any Supply Failure and Teva provides evidence to Alvotech thereof, Alvotech will reimburse Teva for either, at Teva’s election, the difference, if any, between (a) [***],
or (b) [***] “Customer Penalties”). The payment by Alvotech of any Customer Penalties will include interest on such sum from the due date of such payment until the date actual payment is made at the annualized rate of the then prime
rate (as reported in the Wall Street Journal) plus [***] percent ([***]%). 

  

	 	7.3	 Material Delivery Delay To the extent Alvotech commits one or more Supply Failures with respect to a
Product which, with respect to any [***] month period, results in a Shortage of more than [***] percent ([***]%) of the total quantities it was obligated to have delivered with respect to the applicable Scheduled Delivery Dates (“Material
Delivery Delay”) during such [***] month period, such Supply Failures will constitute a material breach of this Agreement with respect to such Product entitling Teva to terminate by giving written notice to Alvotech within [***] months of
the Material Delivery Delay (i) all outstanding purchase order(s) with respect to the Product and (ii) this Agreement in respect of that Product only in accordance with Section 13.2. In addition to the foregoing termination rights,
and regardless of whether Teva exercises such termination rights, upon the occurrence of a Material Delivery Delay with respect to a Product under this Section 7.3: 

 

	 	(a)	 If such Material Delivery Delay occurs within [***] months following the first Scheduled Delivery Date for such
Product, then Alvotech will refund to Teva [***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; 

  

	 	(b)	 If such Material Delivery Delay occurs between [***] months following the first Scheduled Delivery Date for
such Product but before [***] months following the first Scheduled Delivery Date for such Product, then Alvotech will refund to Teva [***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; 

 

	 	(c)	 if such Material Delivery Delay occurs between [***] months following the first Scheduled Delivery Date for
such Product but before [***] months following the first Scheduled Delivery Date for such Product, then Alvotech will refund to Teva [***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; and 

 

	 	(d)	 if such Material Delivery Delay occurs between [***] months following the first Scheduled Delivery Date for
such Product but before [***] months following the first Scheduled Delivery Date for such Product, then Alvotech will refund to Teva [***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; and 

  
 15 

	 	(e)	 if such Material Delivery Delay occurs between [***] months following the first Scheduled Delivery Date for
such Product but before [***] months following the first Scheduled Delivery Date for such Product, then Alvotech will refund to Teva [***] percent ([***]%) of the LDA Payments made by Teva with respect to the Product; and 

 

	 	(f)	 If such Material Delivery Delay occurs [***] months or later following the first Scheduled Delivery Date for
such Product, Alvotech will not refund to Teva any of the LDA Payments made by Teva with respect to the Product pursuant to this Section 7.3. 

  

	 	(g)	 Without limiting the foregoing in Section 7.3, if Alvotech (i) becomes subject to an action by a
Regulatory Authority, (ii) experiences an actual or anticipated production challenge that results in Non-Conforming Product, (iii) experiences an actual or anticipated shortage of raw materials,
Components, or Packaging Materials or (iv) experiences an event or becomes aware of another situation, in any case of the foregoing clauses (i)-(iv), that would reasonably result in a future Shortage, then Alvotech will notify Teva in writing
of such event and include its plan to rectify such situation and an anticipated date determined in Alvotech’s good faith by which the circumstances would be fully rectified. In the event such date would be such that, when compared to
Teva’s most recently submitted rolling forecast for the Product, a Material Delivery Delay would be reasonably anticipated to occur (such event, a “Reasonably Anticipated Material Delivery Delay”), then Teva will have any and
all rights set forth in this Section 7.3 effective immediately upon receipt of Alvotech’s notice. 

  

	 	(h)	 Except to enforce Teva’s rights under Sections 7.1 to 7.3 and Section 15.1(a), Teva shall not assert
any claim against Alvotech and its Affiliates for breach of this Agreement to the extent resulting from late Delivery, delayed Delivery or non-Delivery of Product. 

 

	 	7.4	 Failure to Collect: If Alvotech has Delivered a purchase order for a Product (i.e., made such order
available for collection) on time, but Teva has failed to collect that order or has not provided appropriate onward delivery instructions, or documents, licences or authorisations for such purpose, then provided that (i) the Product to be
Delivered is in compliance with the purchase order, (ii) the actual Delivery date is no more than [***] Business Days earlier than the collection date in the purchase order, (iii) the actual Delivery date has been notified to Teva at least
[***] Business Days in advance and (iv) there are no Force Majeure Events impacting Teva’s ability to collect the Product: 

  

	 	(a)	 the Product shall be deemed to have been Delivered on the Delivery date; 

 

	 	(b)	 Alvotech shall store the Product for up to [***] weeks, but is not obligated to store the Product for a longer
period, unless agreed otherwise by both Parties; 

  

	 	(c)	 after [***] weeks of storing the Product, for the next [***] weeks, Alvotech is entitled to charge Teva for
storage at [***] U.S. Dollars (US$[***]) per pallet per week; 

  

	 	(d)	 after [***] weeks of storing the Product, for all following weeks, Alvotech is entitled to charge Teva for
storage at [***] U.S. Dollars (US$[***]) per pallet per week; and 

  
 16 

	 	(e)	 after [***] weeks of storing the Product, Alvotech is entitled to destroy the Product and charge the costs of
destruction to Teva, unless agreed otherwise by both Parties. 

  

	8.	 MANUFACTURE REQUIREMENTS; CHANGES; COMPLIANCE;
RECALL; MATERIAL NOTIFICATIONS 

  

	 	8.1	 Manufacture Requirements. Products shall be Manufactured in compliance with the Specifications, this
Agreement, the Quality Agreement and Applicable Law in the Territory, including, without limitation, cGMP and, for clarity if deemed a Combination Product, a Product shall be Manufactured in accordance with applicable cGMP requirements set forth in
21 CFR Parts 210 and 211, 21 CFR Parts 600-680 and such provisions of 21 CFR Part 820 specified in 21 CFR 4.4(b)(1) (collectively, the foregoing plus the requirements set forth in Section 12.2(a)(i)
through (v), the “Quality Standards”). 

  

	 	8.2	 Required Changes. If there are any changes to the Product, its Specifications, any Materials, or an
aspect of the Manufacturing process affecting a Product in the Territory required after the applicable BLA Approval Date by Applicable Law or any Regulatory Authority requirement or order, then the Party becoming aware of the required change shall,
as promptly as practicable thereafter, notify the other Party in writing. In such event, the Parties shall, [***]. 

  

	 	8.3	 Teva Requested Changes. If there are any changes to the Specifications, any Materials, or aspect of the
Manufacturing process of a Product requested by Teva after the Product’s BLA Approval Date, then Teva shall, as promptly as practicable thereafter, notify Alvotech in writing and the Parties, through the Joint Committee, shall discuss in good
faith the changes required and the costs and expenses associated therewith. [***]. 

  

	 	8.4	 Alvotech Requested Changes. [***]. 

 

	 	8.5	 Serialization. Alvotech shall provide the Product uniquely identified and in compliance with the
serialization laws and regulations applicable to the Territory and the country in which the Alvotech Facility that makes a Product is located. Alvotech shall mark each Product with a product identifier as required by Applicable Laws. Alvotech and
Teva shall cooperate to ensure such information is in proper format and capable of being received through the proper data interchange. 

  

	 	8.6	 Recall. The Parties shall conduct any Recall, in accordance with the terms of the Quality Agreement. All
costs and expenses associated with implementing a Recall of a Product in the Territory shall be allocated between Alvotech and Teva as follows: (i) in the event, and to the extent, that the Recall arises out of a Teva Liability, then Teva shall
bear the costs and expenses of the Recall (including any out-of-pocket expenses reasonably incurred by Alvotech in connection with such Recall); (ii) in the event, and
to the extent, that the Recall arises out of an Alvotech Liability, then Alvotech shall bear the costs and expenses of the Recall (including any out-of-pocket expenses
reasonably incurred by Teva in connection with such Recall) and shall provide replacement Product at Alvotech’s expense as soon as possible; and (iii) in the event, and to the extent, that the Recall does not arise out of a Teva Liability
or an Alvotech Liability, then the Parties shall share the total costs and expenses of the Recall on a [***] basis, with the Party spending more out-of-pocket being
promptly reimbursed by the other Party. In the event of such recall or similar action, each Party shall use Commercially Reasonable Efforts to mitigate the costs and expenses associated therewith. 

  
 17 

	 	8.7	 Notification of Certain Events. Each Party shall notify the other Party promptly if it becomes aware of
any of the following in respect of the Products in the Territory: (a) any pending or threatened litigation, governmental investigation, proceeding or action involving a Product or the Alvotech Facility; (b) any defective,
adulterated or misbranded Product; (c) any Product is Non-Conforming Product; (d) subject to the Pharmacovigilance Agreement, such information that Alvotech reasonably determines relevant in
relation to any bona fide and legitimate complaint received from lay persons and/or health care professionals associated with the Manufacturing of the relevant Product; and (e) any other event which could materially and adversely affect any
Product. The Quality Agreement shall deal with the handling of complaints which shall include provisions for (a) Alvotech to provide Teva with copies of complaints from lay persons and/or health care professionals who have prescribed,
dispensed or used the Product as marketed by Teva in the Territory for preliminary handling by Teva, (b) Teva to provide copies of complaints relating to the Manufacture of the Product which Teva requests Alvotech to investigate, and
(c) Alvotech to promptly investigate such complaints and provide a reasonably detailed written summary to Teva of all such investigations. 

  

	9.	 ALVOTECH FACILITIES. 

 

	 	9.1	 Additional Manufacturing Sites. Alvotech’s intention as of the Effective Date is to Manufacture
Products at its Alvotech Facility in Iceland, and, subject to obtaining all requisite Regulatory Approvals for its location and activities, as well as in and for the Territory, the Alvotech Facility being constructed in China. Alvotech’s
permission to Manufacture Product at any other Alvotech Facility is subject to the approval of the Joint Committee. If Alvotech desires to transfer to or add additional manufacturing capabilities to another Alvotech Facility other than that
designated in the applicable Regulatory Approval for the Product or Alvotech Facility being constructed in China, then Alvotech shall notify Teva in writing and the Parties shall thereafter discuss through the Joint Committee the potential
consequences of the potential change. Alvotech shall not change the Alvotech Facility for any Product, except in accordance with the authorization of the applicable Regulatory Authorities, the change control procedures in the Quality Agreement, and
save in relation to the Alvotech Facility being constructed in China the prior written consent of Teva, which consent shall not be unreasonably withheld. Prior to engaging with discussions with any Third Party to explore using a site to manufacture
any quantities of the Products, Alvotech shall be obligated to enter into good faith discussion for a period of at least [***] days with Teva to evaluate using a manufacturing facility operated by Teva or one of its Affiliates.

  

	 	9.2	 Maintenance of Alvotech Facilities. During the Term, Alvotech shall maintain the Alvotech Facility; all
personal property, equipment, and machinery; all Materials and Product; and all systems, each as in use at a Alvotech Facility in the ordinary course of business, in compliance with cGMPs and other Applicable Laws and free of material defects,
except for defects attributable to wear and tear consistent with the age and usage of the assets, and except for those defects that do not and shall not materially impair the ability to use the assets in connection with the Manufacture and supply of
any Product. Alvotech shall not, and shall not authorize or allow any of its personnel or third party to, manufacture, store or process any Product in the same building in which Alvotech, Alvotech personnel or third party manufactures, stores or
processes [***] without the appropriate segregation as agreed by Teva in writing prior to such segregation being implemented. 

  
 18 

	 	9.3	 Alvotech Regulatory Inspections. Alvotech shall notify Teva promptly of any inspections by US Regulatory
Authorities which pertain to a Product and an Alvotech Facility and in any event within [***] Business Days after learning of any such inspection; Alvotech may permit [***] authorized representative of Teva to be present. Alvotech shall promptly,
but in any event within [***] Business Days, provide to Teva copies of all material correspondence, reports, notices, findings, formal responses and other material pertinent to such inspections to the extent directly relevant to the Product. To the
extent practicable Teva shall have the opportunity to review and suggest edits or comments to any formal response that is relevant to or otherwise impacts a Product before Alvotech submits any formal response to the applicable Regulatory Authority.
Alvotech shall allow any applicable Regulatory Authority to inspect, audit and review an Alvotech Facility and, to the extent requested by any such Regulatory Authority and appropriate under Applicable Laws, all procedures, practices, books and
records directly relating to a Product and an Alvotech Facility. 

  

	 	9.4	 Teva Regulatory Inspections. Teva shall notify Alvotech promptly of any inspections by any applicable
Regulatory Authorities which pertain to a Product and Teva’s warehouse and distribution system and in any event within [***] Business Days after learning of any such inspection, shall permit Alvotech and no more than [***] authorised
representative of Alvotech to be present at any such inspection, and shall promptly, but in any event within [***] Business Days, provide to Alvotech copies of all material correspondence, reports, notices, findings, formal responses and other
material pertinent to such inspections to the extent directly relevant to the Product. To the extent practicable Alvotech shall have the opportunity to review and suggest edits or comments to any formal response that is relevant to or otherwise
impacts a Product before Teva submits any formal response to the applicable Regulatory Authority. Teva shall allow any applicable Regulatory Authority to inspect, audit and review Teva’s warehouse and distribution system and, to the extent
requested by any such Regulatory Authority and appropriate under Applicable Laws, all procedures, practices, books and records directly relating to a Product and Teva’s warehouse and distribution system. 

 

	10.	 COMPLIANCE. 

 

	 	10.1	 Supplier Code of Conduct. Alvotech shall, and shall cause all Alvotech personnel involved with supplies
of Products under this Agreement to: 

  

	 	(a)	 familiarize itself with the requirements of the Teva Supplier Code of Conduct, a copy of which is attached
hereto as Schedule 10.1 (the “Teva Supplier Code”); 

  

	 	(b)	 answer any reasonable inquiry regarding compliance with the Teva Supplier Code; and 

 

	 	(c)	 familiarize themselves with the provisions of the applicable anti-corruption and anti-bribery laws and the
standards set out in the Teva Supplier Code. 

  

	 	10.2	 Biosimilar Biological Product Development (BPD) Fees. As the BLA filer, it is understood that Alvotech
US shall pay all applicable BPD fees and any other registration fees required to maintain the BLA for each Product. If Alvotech US does not pay any required BPD fees with respect to any Product, Teva shall have the right to pay the fees on
Alvotech US’s behalf, and shall promptly invoice Alvotech therefor or set off the amount against any payment due by Teva to Alvotech under this Agreement. If Teva invoices Alvotech, Alvotech shall pay the invoice within [***] days after
the date of the invoice. 

  
 19 

	11.	 QUALITY CONTROL; QUALITY ASSURANCE
LIAISON. 

  

	 	11.1	 Quality Agreement. All Product Manufactured and sold by Alvotech to Teva under this Agreement, when
Delivered by Alvotech (or any Alvotech Personnel) to Teva shall meet the Quality Standards contained in a quality agreement to be entered into by the Parties no later than [***] months following the Effective Date of this Agreement (“Quality
Agreement”), in a form to be agreed by both Parties. The Parties will finalise and enter into the Quality Agreement at least [***] months before the first Delivery of the Product under this Agreement is due to be made. In the event
of any inconsistencies between this Agreement and the Quality Agreement, the provisions of this Agreement shall prevail except in respect of any technical matters, in which case the Quality Agreement shall prevail. 

 

	 	11.2	 Samples. Alvotech shall maintain a sample of each Product as required by Applicable Law or as otherwise
mutually agreed in writing by the Parties. 

  

	 	11.3	 Validation. Alvotech shall validate all processes, methods, equipment, utilities, facilities and
computers used in the Manufacturing, formulation, storage, testing, release and Delivery of each Product in conformity with all Applicable Laws. 

  

	 	11.4	 Quality Compliance. Alvotech shall notify Teva within [***] of discovering any deviations that would (or
reasonably would be expected to) materially impact the quality of a Product in the Territory, being deviations regarding Manufacture, Packaging or Labeling of the Product that would be (or reasonably expected to be) reported to the FDA and/or under
the EMA Rapid Alert System. 

  

	 	11.5	 Development and Manufacturing Records. Alvotech shall maintain complete and accurate records relating to
each Product (including, as applicable, any Materials) developed by or on behalf of Alvotech and supplied under this Agreement and the manufacture, finished Product packaging, Labeling and testing thereof for the period required by Applicable Law,
and Alvotech shall make available for review, and, if required, provide copies of, such records to Teva and its designees upon Teva’s reasonable written request. The records shall be subject to audit and inspection under this Article
11. 

  

	 	11.6	 Batch Records. Records that include the information relating to the Components and Manufacturing,
semi-finished and finished Product and Product packaging, and quality operation for each batch of each Product shall be prepared by Alvotech or applicable Alvotech Personnel at the time such operations occur. Alvotech or the applicable Alvotech
Personnel shall prepare such records in accordance with the Quality Agreement. 

  

	 	11.7	 Audits of Alvotech Facility. Teva (or any duly authorized representative on Teva’s behalf) shall
have the right for not more than [***] quality auditors for up to [***] days, upon [***] weeks’ prior written notice to Alvotech and during normal business hours and not more than once in any calendar year (except when invited by Alvotech to be
present for (a) audits, notices or actions at the request of US Regulatory Authorities; (b) legal disputes or proceedings regarding the Manufacture or supply of any Product in the Territory; and (c) “for cause” investigations),
to audit and inspect Alvotech Facilities to ensure that all Products are being Manufactured, Labeled, packaged and stored in 

  
 20 

	 	
compliance with the Quality Agreement. During such audits and inspections, Alvotech shall permit Teva to contact and question applicable Alvotech Personnel. Alvotech shall make available to Teva
and its duly authorized representatives and agents all books, records and documents which pertain to the manufacture or quality, testing and compliance procedures for each Product. Following an audit pursuant to this Section 11.7, Teva shall
discuss its observations and conclusions with Alvotech and, within [***] days after notification thereof by Teva, Alvotech shall implement such corrective actions as may be reasonably determined by the Parties. 

 

	 	11.8	 Audits of Teva Facility. Alvotech (or any duly authorized representative on Alvotech’s behalf)
shall have the right, upon [***] weeks prior written notice to Teva and during normal business hours and not more than once in any calendar year (except when invited by Teva for (a) audits, notices or actions at the request of US Regulatory
Authorities; (b) legal disputes or proceedings regarding the Manufacture or supply of any Product in the Territory; and (c) “for cause” investigations), to audit and inspect Teva’s facilities to ensure that all Products are being
stored and distributed in compliance with the Quality Agreement. During such audits and inspections, Teva shall permit Alvotech to contact and question applicable Teva personnel. Teva shall make available to Alvotech and its duly authorized
representatives and agents all books, records and documents which pertain to the storage and distribution procedures for each Product. Following an audit pursuant to this Section 11.8, Alvotech shall discuss its observations and conclusions
with Teva and, within [***] days after notification thereof by Alvotech, Teva shall implement such corrective actions as may be reasonably determined by the Parties. 

 

	 	11.9	 Quality Assurance Liaison. Alvotech and Teva shall each designate one individual to whom all of the
other Party’s communications may be addressed with respect to the Manufacturing of the Product (the “Quality Assurance Liaison”). Each Party shall give prompt notice to the other Party of any material adverse change or event
that relates to a quality issue or related matter with respect to an Alvotech Facility or a Product. Either Party may replace its Quality Assurance Liaison on [***] days’ prior written notice to the other Party. 

 

	 	11.10	 Pharmacovigilance Agreement. Supplies of Product under this Agreement shall also be subject to the terms
and conditions of a Pharmacovigilance Agreement, in form to be agreed by both Parties. The Parties will finalise and enter into the Pharmacovigilance Agreement at least [***] months before the first Delivery of the Product under this Agreement is
due to be made. 

  

	12.	 REPRESENTATIONS AND WARRANTIES 

 

	 	12.1	 Teva Representations, Warranties and Undertakings. Teva hereby represents, warrants and undertakings to
Alvotech that: 

  

	 	(a)	 the execution, delivery and performance of this Agreement does not conflict with, violate or breach any
agreement to which Teva is a party or Teva’s constituent documents; 

  

	 	(b)	 Teva is not prohibited or limited by any law or agreement to which it is a party from entering into this
Agreement; 

  
 21 

	 	(c)	 Teva shall provide Product forecast in good faith basis and shall make reasonable effort in providing accurate
forecast based on industry knowledge and current business environment within the Territory; and 

  

	 	(d)	 the performance of this Agreement shall not create any conflict with any other business or activity engaged in
by Teva. 

  

	 	12.2	 Alvotech Representations, Warranties and Undertakings. Alvotech hereby represents, warrants and
undertakings to Teva that: 

  

	 	(a)	 All Products shall: 

  

	 	(i)	 meet the applicable Specifications for the applicable Product at the time of Delivery; 

 

	 	(ii)	 meet regulatory requirements of the relevant Regulatory Authority in the Territory; 

 

	 	(iii)	 shall be Manufactured in accordance with any Applicable Law of the Territory, including cGMP, the Quality
Standards and terms set out in the Quality Agreement; 

  

	 	(iv)	 not be adulterated or misbranded under any Applicable Law of the Territory; and 

 

	 	(v)	 be Manufactured in an Alvotech Facility, which has been approved by the applicable Regulatory Authority to the
extent required by Applicable Law. 

  

	 	(b)	 At the time of Delivery, Alvotech shall have title to the Products and the Products shall be free and clear of
all liens, claims, charges or other encumbrance of any kind or character. 

  

	 	12.3	 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR THE LDA, ALVOTECH MAKES NO
REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED, WRITTEN OR ORAL, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY, WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTY OF NON-INFRINGEMENT. 

  

	13.	 TERM AND TERMINATION. 

 

	 	13.1	 Term. This Agreement shall commence on the Effective Date and shall remain in effect and shall continue
in force on a Product-by-Product basis, unless earlier terminated in accordance with this Section 13, until the expiration or earlier termination of the LDA in
respect of that Product or in termination of the LDA as a whole in which case this Agreement shall terminate as a whole (the “Term” and in respect of a particular Product its “Product Supply Term”).

  

	 	13.2	 Termination for Breach. Without prejudice to the rights and remedies of the Parties under this
Agreement, this Agreement may be terminated by either Party, either on a Product-by-Product basis in the event the applicable breach specifically relates to such Product, or in its entirety, by written notice
provided to the Breaching Party in the following manner: (i) 

  
 22 

	 	
the terminating Party shall send written notice of the material breach or material default to the Breaching Party specifying the Product(s) and alleged breach, and (ii) the termination shall
become effective sixty (60) days after written notice thereof was provided to the Breaching Party, unless and if such material breach or material default could be cured, and the Breaching Party has cured any such material breach or material
default prior to the expiration of the sixty (60) day period. Notwithstanding the foregoing, if the existence of a breach or default (or cure thereof) is the subject of a good faith dispute by the Parties, the cure period referred to in clause
(ii) shall not begin to run until such dispute is resolved. 

  

	 	13.3	 Termination for BLA Revocation. If the BLA Approval for a Product in the Territory is revoked by a
Regulatory Authority due to a health, safety or efficacy concern then either Party may terminate this Agreement in respect of such Product, and Teva may require Alvotech to purchase at the applicable Transfer Price of such Products as were ordered
by or on behalf of Teva prior to termination, any and all unsold quantities of Products at the time of such termination. 

  

	 	13.4	 Termination for Failure to Purchase Minimum Quantity. Alvotech shall have the right to terminate
this Agreement with respect to a Product in accordance with Section 6.4. 

  

	 	13.5	 Termination for Continued Margin Split Event. If a Margin Split Event has occurred and results in a
negative Margin for a period of four (4) consecutive Calendar Quarters, then either Party may terminate this Agreement in respect of such Product by written notice to the other Party, which termination shall become effective thirty
(30) days after written notice thereof was provided to the non- terminating Party. 

  

	 	13.6	 Effects of Expiration or Termination. The Parties agree that the applicable provisions of
Section 12.7 LDA shall apply on an expiration or termination of this Agreement, provided that termination or expiration of this Agreement shall not relieve either Party from any obligations or liabilities previously accrued to the other Party
of which is attributable to a period prior to such expiration or termination and any and all damages or remedies (whether in law or in equity) arising from any breach hereunder. Notwithstanding anything to the contrary in this Agreement or any other
agreement between the Parties, all rights and obligations of the Parties set forth herein that expressly or by their nature survive expiration or termination of this Agreement (including without limitation any payment obligations accrued prior to
termination of this Agreement, Section 23.6 (Confidentiality and communications), Section 15 (Indemnification, Limitation of Liability and Insurance), this Section 13.6 (Effects of Expiration or Termination) and Sections 16 to 23)
shall continue in full force and effect subsequent to and notwithstanding the expiration or termination of this Agreement until they are satisfied or by their nature expired and shall bind the Parties and their legal representatives, successors, and
permitted assigns. 

  

	14.	 FORCE MAJEURE 

 

	 	14.1	 Force Majeure Event. Alvotech shall not be liable for and/or be responsible for any default under this
Agreement by reason of wars, acts of terrorism, acts of God, civil war, insurrection or riot, fires, floods, explosions, earth quakes or serious accident, any act of government or any other civil or military authority, allocation regulations or
orders affecting materials, facilities or completed equipment, strikes, labor troubles causing cessation, slowdown or interruption of work, inability after due and timely diligence to procure materials, accessories, equipment or parts, or
transportation, or, to the extent declared by WHO or other health authorities, epidemics, pandemics or other public health emergencies, or any other cause beyond its reasonable control. 

  
 23 

	 	14.2	 Notice. Promptly upon the occurrence of any event hereunder which may result in a delay in the Delivery
of Products, Alvotech shall give notice thereof to Teva, which notice shall identify such occurrence and specify the period of delay which may reasonably be expected to result therefrom. 

 

	 	14.3	 Extension. Any delay resulting from any such cause shall extend Scheduled Delivery Dates to the extent
caused thereby. 

  

	15.	 INDEMNIFICATION, LIMITATION OF LIABILITY
AND INSURANCE 

  

	 	15.1	 Indemnity  

 

	 	(a)	 Alvotech shall defend, indemnify and hold harmless each Teva Affiliate (on an
after-Tax basis) and defend Teva and its Affiliates from and against any Third Party Claim brought against or incurred or suffered by Teva and/or any of its Affiliates in respect of (i) death, illness or
injury to any Third Party or for loss or damage to any Third Party’s property resulting from of a breach by Alvotech or its employees, agents or subcontractors of their respective representations, warranties or covenants or of the provisions of
this Agreement or the Quality Agreement or the gross negligence or willful misconduct of Alvotech or any of its Affiliates or its employees, agents or subcontractors in the performance of this Agreement, or (ii) a violation of Applicable Law in
the Territory by Alvotech or any of its Affiliates or its employees, agents or subcontractors, but in each case excluding to the extent that Teva has an obligation to indemnify Alvotech or Alvotech’s Affiliates against such Third Party Claim
pursuant to this Agreement or the LDA. Any such claim for indemnification by Teva or its Affiliates shall be in accordance with Section 11.1.2 of the LDA. 

 

	 	(b)	 Teva shall defend, indemnify and hold harmless each Alvotech Affiliate (on an
after-Tax basis) and defend Alvotech and its Affiliates from and against any Third Party Claim brought against or incurred or suffered by Alvotech and/or any of its Affiliates in respect of (i) death,
illness or injury to any Third Party or for loss or damage to any Third Party’s property resulting from of a breach by Teva or its employees, agents or subcontractors of their respective representations, warranties or covenants or of the
provisions of this Agreement or the Quality Agreement or the gross negligence or willful misconduct of Teva or any of its Affiliates or its employees, agents or subcontractors in the performance of this Agreement, or the Quality Agreement, or
(ii) a violation of Applicable Law in the Territory by Teva or any of its Affiliates or its employees, agents or subcontractors, but in each case excluding to the extent Alvotech has an obligation to indemnify Teva or Teva’s Affiliates
against such Third Party Claim pursuant to this Agreement or the LDA. Any such claim for indemnification by Alvotech or its Affiliates shall be in accordance with Section 11.2.2 of the LDA.  

 

	 	15.2	 Limitation of Liability. 

 

	 	(a)	 SUBJECT TO SECTION 15.2(b) AND EXCEPT AS ARISING DUE TO THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH
PARTY OR ITS AFFILIATES NEITHER PARTY SHALL BE LIABLE WHETHER IN TORT (INCLUDING FOR NEGLIGENCE OR BREACH OF STATUTORY DUTY), TO THE OTHER PARTY FOR ANY SPECIAL, INCIDENTAL, INDIRECT, EXEMPLARY, CONTINGENT, CONSEQUENTIAL OR PUNITIVE DAMAGES
INCLUDING, BUT NOT LIMITED TO, LOSS OF PROFIT, LOSS OF SAVINGS, LOSS OF BUSINESS OR LOSS OF CONTRACTS, WHETHER ARISING FROM NEGLIGENCE, BREACH OF CONTRACT OR IN ANY OTHER WAY. 

  
 24 

	 	(b)	 The limitations set forth in Section 15.2(a) shall not apply with respect to the liability of either Party
for: 

  

	 	(i)	 death or personal injury caused by that Party’s negligence or that of their respective subcontractors,
officers, employees or agents; 

  

	 	(ii)	 fraud or fraudulent misrepresentation; or 

 

	 	(iii)	 any matter for which it would be unlawful for the Parties to exclude liability; or 

 

	 	(iv)	 Third Party Claims which are subject to indemnification under Sections 15.1(a) or 15.1(b).

  

	 	15.3	 Insurance. The insurance obligations of the Parties are as set forth in Section 11.4 of the LDA.

  

	16.	 NOTICE AND OTHER COMMUNICATIONS

 All notices, requests, demands, and other communications required by or made in connection with this Agreement or the transactions
contemplated by this Agreement shall be in writing and shall be deemed to have been duly given on the date received if delivered in person, by facsimile or e-mail (upon written confirmation of receipt), or by
a reputable overnight mail courier service, postage prepaid, to the address of the Parties set forth below. 
 If to Teva: 

[***] 
 With a copy to: 

[***] 
 With a copy to: 

[***] 
 If to Alvotech: 

[***] 
 Notices shall be effective upon receipt if personally
delivered, on the third Business Day following the date of registered or certified mailing, or on the first Business Day following the date of delivery to the overnight courier. A Party may change its address listed above by written notice to the
other Party. 

  
 25 

	17.	 SEVERABILITY 

This Agreement is intended to be valid and effective throughout the world and, to the extent permissible under applicable law, shall be construed in a manner
to avoid violation of or invalidity under any applicable law. Should any provision hereof nevertheless be or become invalid, illegal or unenforceable under any applicable law, the other provisions hereof shall not be affected, and to the extent
permissible under applicable law, any such invalid, illegal or unenforceable provision shall be deemed amended lawfully to conform to the intent of the Parties. 
  

	18.	 DISPUTE RESOLUTION 

Any and all disputes, claims or differences arising out of or relating to this Agreement or the alleged breach thereto shall be settled in accordance with
Section 13.6 of the LDA. 
  

	19.	 GOVERNING LAW 

This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflicts of law principles,
including all matters of construction, validity, performance and enforcement. To the extent that it may otherwise be applicable, the Parties hereby expressly agree to exclude from the operation of this Agreement, the United Nations Convention on
Contracts for the International Sale of Goods, concluded at Vienna, on April 11, 1980, as amended and as may be amended further from time to time. 
  

	20.	 NON-ASSIGNABILITY

 This Agreement may be assigned by either Party solely in accordance with terms of Section 13.2 of the LDA, which shall apply to
this Agreement, mutatis mutandis. Notwithstanding anything contained herein or in the LDA to the contrary, it is understood and agreed that Products to be manufactured by Alvotech for Teva hereunder may be so manufactured by one or more designees of
Alvotech. 
  

	21.	 RELATIONSHIP OF THE PARTIES

  

	 	21.1	 Nothing in this Agreement, and no action taken by the Parties pursuant to this Agreement, will be deemed to
constitute a relationship between the Parties of partnership, joint venture, principal and agent or employer and employee. Neither Party has, nor may it represent that it has, pursuant to this Agreement, any authority to act or make any commitments
on the other Party’s behalf. Neither Party will have the authority or power to bind the other or to contract in the name of or create liability against the other in any way or for any purpose. 

 

	 	21.2	 Each of Teva and Alvotech shall procure that each member of its respective group complies with all obligations
under this Agreement which are expressed to apply to any such member. 

  

	22.	 COUNTERPARTS 

 

	 	22.1	 This Agreement may be entered into in any number of counterparts, all of which taken together shall constitute
one and the same instrument. Any Party may enter into this Agreement by executing any such counterpart. Delivery of a counterpart of this Agreement by email attachment shall be an effective mode of delivery. 

  
 26 

	23.	 ENTIRE AGREEMENT AND MODIFICATION

  

	 	23.1	 Entire Agreement. This Agreement, together with the LDA, constitutes the entire understanding of
the Parties relating to the subject hereof and supersedes all other previous agreement and understandings, whether written or oral. 

  

	 	23.2	 Modification. No variation of this Agreement shall be effective unless in writing and signed by or on
behalf of each of the Parties. 

  

	 	23.3	 No Waiver. No failure or delay by a Party in exercising any right or remedy provided by Applicable Law
or under this Agreement or any transaction document shall impair such right or remedy or operate or be construed as a waiver or variation of it or preclude its exercise at any subsequent time and no single or partial exercise of any such right or
remedy shall preclude any further exercise of it or the exercise of any other remedy. 

  

	 	23.4	 Conflict. In the event of any conflict between the terms and conditions of this Agreement and those of
the LDA, the terms and conditions of the LDA shall prevail, except with respect to any issues pertaining to the purchase and supply of Product, in which case the terms of this Agreement shall prevail. 

 

	 	23.5	 Exchange Controls and Conversion. The Exchange Controls and Conversion requirements for this Agreement
are as set forth in Section 13.11 of the LDA. 

  

	 	23.6	 Confidentiality and communications. The confidentiality and communications obligations of the Parties
are as set forth in Sections 8 and 13.8 of the LDA, which shall apply mutatis mutandis to this Agreement and the subject matter of this Agreement. 

[SIGNATURE PAGE FOLLOWS] 

  
 27 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the Effective Date.

  

			
	ALVOTECH HF.
		
	By:	 	 /s/ Robert Wessman

		 	Name: Robert Wessman
		 	Title: Chairman and authorized signatory
	
	TEVA PHARMACEUTICALS INTERNATIONAL GMBH
		
	By:	 	 /s/ Naama Bar Am

		 	Name: Naama Bar Am
		 	Title: President of the Board of Managing Officers
		
	By:	 	 /s/ Olaf Ulrich

		 	Name: Olaf Ulrich
		 	Title: Member of the Management

  
 28 

 Schedule 1 

[***] 

  
 29 

 Schedule 2.5 

[***] 

  
 30 

 Schedule 3.2 

[***] 

  
 31 

 Schedule 5.8 

[***] 

  
 32 

 Schedule 10.1 

[***] 

  
 33EX-10.17

 Exhibit 10.17 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF
PUBLICLY DISCLOSED. THE OMISSIONS HAVE BEEN INDICATED BY “[***].” 
 EXECUTION VERSION 

LICENSE AND DEVELOPMENT AGREEMENT 

 TABLE OF CONTENTS 

 

							
	 LICENSE AND DEVELOPMENT AGREEMENT
	  	 	1	 
		
	 RECITALS
	  	 	1	 
		
	 SECTION 1 - DEFINITIONS
	  	 	1	 
			
	 1.1
	 	Definitions	  	 	1	 
		
	 SECTION 2 – GENERAL ARRANGEMENTS
	  	 	13	 
			
	 2.1
	 	Grant of Rights	  	 	13	 
			
	 2.2
	 	Right of First Negotiation	  	 	15	 
			
	 2.3
	 	Covenant Not to Compete	  	 	16	 
			
	 2.4
	 	Rights outside the Territory	  	 	17	 
		
	 SECTION 3 – DEVELOPMENT AND REGULATORY APPROVAL OF THE
PRODUCTS
	  	 	17	 
			
	 3.1
	 	Roles and Responsibilities	  	 	17	 
			
	 3.2
	 	Development Costs	  	 	18	 
		
	 SECTION 4 – COMMERCIALIZATION
	  	 	18	 
			
	 4.1
	 	Commercialization	  	 	18	 
			
	 4.2
	 	Pricing	  	 	19	 
			
	 4.3
	 	Trademarks & Domains; Advertising and Promotional Materials; Educational Materials	  	 	19	 
			
	 4.4
	 	Quality Agreement; Quality Plan and Requirements	  	 	20	 
			
	 4.5
	 	Pharmacovigilance Agreement	  	 	20	 
		
	 SECTION 5 – PRODUCT SUPPLY AGREEMENT
	  	 	26	 
			
	 5.1
	 	Sale and Purchase of Product	  	 	26	 
		
	 SECTION 6 FINANCIAL TERMS FOR LICENSE AND DEVELOPMENT
	  	 	26	 
			
	 6.1
	 	License Fees and Milestone Payment	  	 	26	 
			
	 6.2
	 	Milestones	  	 	23	 
			
	 6.3
	 	Withholding Taxes	  	 	24	 
			
	 6.4
	 	Payments; Late Payments	  	 	24	 
			
	 6.5
	 	Records and Audit	  	 	25	 
		
	 SECTION 7 - MANAGEMENT AND GOVERNANCE
	  	 	26	 
			
	 7.1
	 	Joint Committee	  	 	26	 

  
 i 

							
	 7.2
	 	Joint Committee and Joint Patent Committee Dispute Resolution	  	 	28	 
			
	 7.3
	 	Joint Patent Committee	  	 	29	 
			
	 7.4
	 	Participation Cost	  	 	32	 
		
	 SECTION 8 - CONFIDENTIALITY
	  	 	32	 
			
	 8.1
	 	Non-Disclosure and Non-Use of Confidential Information	  	 	32	 
			
	 8.2
	 	Disclosure Pursuant to Legal Obligation	  	 	32	 
			
	 8.3
	 	Disclosure to Prospective Investors	  	 	33	 
		
	 SECTION 9 – IP LITIGATION
	  	 	33	 
			
	 9.1
	 	IP Litigation/Invalidation	  	 	33	 
		
	 SECTION 10 – REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	34	 
			
	 10.1
	 	Alvotech’s Representations and Warranties	  	 	34	 
			
	 10.2
	 	Teva’s Representations and Warranties	  	 	37	 
			
	 10.3
	 	Compliance with Anti-Corruption Laws	  	 	39	 
			
	 10.4
	 	No Other Warranties	  	 	41	 
		
	 SECTION 11 – INDEMNIFICATION, LIMITATION OF LIABILITY AND
INSURANCE
	  	 	41	 
			
	 11.1
	 	Indemnification by Alvotech	  	 	41	 
			
	 11.2
	 	Indemnification by Teva	  	 	42	 
			
	 11.3
	 	Limitation of Liability	  	 	42	 
			
	 11.4
	 	Insurance.	  	 	43	 
		
	 SECTION 12 - TERM AND TERMINATION
	  	 	44	 
			
	 12.1
	 	Term	  	 	44	 
			
	 12.2
	 	Termination for Breach	  	 	44	 
			
	 12.3
	 	Termination for Insolvency	  	 	45	 
			
	 12.4
	 	Termination Due to Lack of Commercial Viability	  	 	45	 
			
	 12.5
	 	Termination for Material Safety Issue	  	 	46	 
			
	 12.6
	 	Termination of Product Supply Agreement	  	 	46	 
			
	 12.7
	 	Effects of Expiration or Termination	  	 	46	 
		
	 SECTION 13 - MISCELLANEOUS PROVISIONS
	  	 	51	 
			
	 13.1
	 	Independent Status of the Parties	  	 	51	 
			
	 13.2
	 	Assignment and Change of Control	  	 	51	 

  
 ii 

							
	 13.3
	 	Force Majeure	  	 	52	 
			
	 13.4
	 	Severability	  	 	52	 
			
	 13.5
	 	Governing Law	  	 	52	 
			
	 13.6
	 	Dispute Resolution	  	 	52	 
			
	 13.7
	 	Relationship of Parties	  	 	53	 
			
	 13.8
	 	Communications	  	 	53	 
			
	 13.9
	 	No Implied Licenses	  	 	55	 
			
	 13.10
	 	Notices	  	 	55	 
			
	 13.11
	 	Exchange Controls and Conversion	  	 	55	 
			
	 13.12
	 	Entire Agreement	  	 	56	 
			
	 13.13
	 	Headings	  	 	56	 
			
	 13.14
	 	Waivers and Amendments	  	 	56	 
			
	 13.15
	 	Counterparts	  	 	56	 
			
	 13.16
	 	Construction	  	 	56	 

 Schedules 
  

			
	 Schedule A
	  	Product Indications
		
	 Schedule B
	  	The Development Plan
		
	 Schedule C
	  	Estimated Approval Dates
		
	 Schedule D
	  	Product Supply Agreement
		
	 Schedule E
	  	Initial Press Release
		
	 Schedule F
	  	Alvotech Disclosure Schedule
		
	 Schedule G
	  	Alvotech’s Preferred Litigators
		
	 Schedule H
	  	Quality Plan and Requirements

  

  
 iii 

 LICENSE AND DEVELOPMENT AGREEMENT 

THIS LICENSE AND DEVELOPMENT AGREEMENT (“Agreement”) is entered into as of 5 August, 2020 (the “Effective
Date”) by and between Alvotech Hf., a corporation organized under the laws of Iceland, having its principal place of business at Saemundargotu 15-19, 101, Reykjavik, Iceland
(“Alvotech”) and Teva Pharmaceuticals International GmbH, a company organized under the laws of Switzerland, having its principal place of business at Schluselstrasse 12, Rapperswil–Jona 8645, Switzerland
(“Teva”). Each party shall be referred to individually as a “Party” and collectively as “Parties”. 

RECITALS 
 A. Alvotech will develop
and manufacture the drug substances and drug products AVT02, AVT04, AVT05, AVT06 and AVT16, which are at the date of this Agreement proposed biosimilars to the Reference Products Humira®,
Stelara®, Simponi®, Eylea®, and [***], respectively; 

B. Alvotech is the sole and exclusive holder of the commercialization and distribution rights for AVT02, AVT04, AVT05, AVT06 and AVT16 in the Territory (as
defined herein); 
 C. Teva is engaged in the business of, and has expertise in, among other things, the sales and marketing of pharmaceutical drugs and
biological medicinal products; and 
 D. Alvotech desires to have Teva commercialize AVT02, AVT04, AVT05, AVT06 and AVT16 in the Territory (as defined
herein) upon the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 

SECTION 1 - DEFINITIONS 
  

	1.1	 Definitions. In addition to such other terms as elsewhere defined herein, as used
in this Agreement, the following capitalized terms shall have the following meanings: 

 “Ad/Promo Materials”
shall mean any materials (including in print, on websites and/or social media) that support Marketing activities in the Territory. 

“Affiliate” shall mean any entity that directly or indirectly controls, is controlled by or is under common control with another entity;
provided, however, that in the case of Teva, a Wholesaler Affiliate shall not be deemed to be an Affiliate hereunder. The term “control”, including the terms “controlled by” or “under common control with”, means the
possession of, directly or indirectly, the capability to control the direction of the management and policies of any entity, whether through the ownership of shares, by contract or otherwise. 

 “Alliance Manager” shall mean a senior representative, appointed by Teva or Alvotech, who
possesses a general understanding of pharmaceutical development and commercialization issues to act as a primary point of contact between the Parties. 

“Alvotech” shall have the meaning set forth in the preamble. 

“Alvotech Liabilities” shall mean any liabilities, charges, costs, or expenses, including reasonable attorneys’ fees and settlement
payments that arise from any claim, lawsuit or other action by a Third Party (each such claim, lawsuit or other action, a “Third Party Claim”) resulting from [***]. 

“Alvotech Parent” means the parent company of Alvotech, Alvotech Holdings S.A., a public limited company (société
anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 5 rue Heienhaff, L-1736 Senningerberg, Grand Duchy of Luxembourg and registered with the
Luxembourg Trade and Companies’ Register under number B 229193. 
 “Alvotech US” means Alvotech USA Inc., a Virginia corporation whose
principal place of business is at 1201 Wilson Blvd., Ste. 2130, Arlington, VA, 22209, an Affiliate of Alvotech Hf. 
 “Anti-Corruption
Laws” shall mean the FCPA and other applicable anti-corruption laws. 
 “Anti-Corruption Laws and Principles” shall mean the
Anti-Corruption Laws, together with the OECD Convention. 
 “Applicable Law” shall mean all applicable provisions of any and all national,
supranational, regional, state and local laws, treaties, statutes, rules, regulations, administrative codes, guidance, ordinances, judgments, decrees, directives, injunctions, orders, permits of or from any court, arbitrator, Regulatory Authority or
other authority having jurisdiction over or related to the testing, development, approval, registration, manufacture, exportation, importation, distribution, storage and Commercialization, of any of the Products or their components, as any of the
foregoing may be amended from time to time, including without limitation, the Federal Food, Drug, and Cosmetic Act, the PHS Act, cGLP and cGMP. 

“AVT02” shall mean adalimumab, a proposed Biosimilar to Humira®. 

“AVT02 Refund Date” shall have the meaning set forth in Section 6.1.2(a). 

“AVT04” shall mean ustekinumab, a proposed Biosimilar to Stelara®. 

“AVT04 Refund Date” shall have the meaning set forth in Section 6.1.2(b). 

“AVT05” shall mean golimumab, a proposed Biosimilar to Simponi®. 

  
 2 

 “AVT05 Refund Date” shall have the meaning set forth in Section 6.1.2(c). 

“AVT06” shall mean aflibercept, a proposed Biosimilar to Eylea®. 

“AVT06 Refund Date” shall have the meaning set forth in Section 6.1.2(d). 

“AVT16” shall mean [***], a proposed Biosimilar to [***]. 

“AVT16 Refund Date” shall have the meaning set forth in Section 6.1.2(e). 

“Biosimilar” shall mean a biological medicinal product for human use that is highly similar to a specific Reference Product, notwithstanding
minor differences in clinically inactive components, such that there are no clinically meaningful differences between the Reference Product and the biological product in terms of the safety, purity, and potency of the product, and for which
licensure is sought or has been obtained as a biosimilar pursuant to Section 351(k) of the PHS Act. 
 “BLA” shall mean a Biologics
License Application filed pursuant to the requirements of the FDA under Section 351(k) of the PHS Act and 21 C.F.R. Section 601.2, to obtain Regulatory Approval for a Product in the United States. 

“BLA Approval” means in respect of a Product, approval by FDA of its BLA, including where relevant, any supplement thereto, filed by or on
behalf of any Relevant Party. 
 “BLA Approval Date” means the date on which any of the Relevant Parties receives written notice
from the FDA that it has approved a BLA, including where relevant, any supplement thereto, filed by or on behalf of any Relevant Party. 
 “Blackout
Period” shall mean, on a Product-by-Product basis, the [***] beginning on the date Teva submits its first purchase order for Launch quantities of the Product.

 “BPCIA” shall mean the Biologics Price Competition and Innovation Act of 2009 within the Patient Protection and Affordable Care Act,
signed into law in March 2010, as amended or any successor law thereto. 
 “Breaching Party” shall mean a Party which is in material breach
or default of its obligations hereunder (including, without limitation, a material breach under the Product Supply Agreement, Pharmacovigilance Agreement or Quality Agreement) or with respect to which any of the representations or warranties of such
Party hereunder (including, without limitation, under the Pharmacovigilance Agreement) were untrue in a material respect when made. 
 “Business
Day” shall mean any day Monday through Friday, provided that if an activity to be performed or an event to occur falls on a Saturday, Sunday or any other day which is recognized as a national holiday in New York, New York, Zurich,
Switzerland or Iceland, then the activity may be performed or the event may occur on the next day that is not a Saturday, Sunday or such nationally recognized holiday. 

  
 3 

 “cGLP” shall mean the current good laboratory practices for conducting laboratory studies
with respect to a Product in conformance with good laboratory practice as specified by the FDA. 
 “cGMP” shall mean the current Good
Manufacturing Practices, required by the Federal Food, Drug, and Cosmetics Act, and the regulations and guidance promulgated thereunder, as may be amended from time to time, which are in effect as of the date of the manufacturing. 

“Change of Control” shall mean that (i) any person/entity controlling a Party ceases to control that Party; (ii) any person/entity
not controlling a Party obtains control of that Party; (iii) the acquisition, directly or indirectly, by any Person or group of related Persons (other than any Person that controls, is controlled by or is under common control with a Party) of
beneficial ownership of securities possessing more than fifty percent (50%) of the total combined voting power of a Party’s outstanding securities; (iv) a merger or consolidation in which securities possessing more than fifty percent (50%)
of the total combined voting power of such Party’s outstanding securities are transferred to a Person or Persons different from the Persons holding those securities immediately prior to such transaction; or (v) the sale, transfer or other
disposition of all or substantially all of such Party’s assets; provided, however, that neither the merger of a Party with any of its Affiliates nor an IPO shall be deemed a Change of Control for purposes of this Agreement. The term
“control”, including the term “controlling” means the possession of, directly or indirectly, the capability to control the direction of the management and policies of a Party, whether through the ownership of shares, by contract
or otherwise. 
 “Clinical Data” shall mean all data, analyses, or similar information generated or developed by Alvotech or its Affiliates
(or a Third Party acting on their behalf) as a result of or in connection with Clinical Studies associated with the Development of a Product in the Territory including, without limitation, pursuant to the similarity studies, comparative clinical
studies, comparability exercises, comparability trials, or real-world data related to a Product or an application to FDA under Section 351(k) of the PHS Act. 

“Clinical Studies” shall mean any investigation in human subjects involving one or more medicinal products, including, but not limited to,
clinical investigations with the objective of ascertaining the safety and/or efficacy of such medicinal product(s); 
 “Close Family
Member” shall mean any parent, child, spouse, or sibling, whether by blood or marriage. 
 “Commercialize” or
“Commercialization” shall mean in respect of each Product all processes and activities conducted to introduce a Product into the market in the Territory and Marketing a Product. 

  
 4 

 “Commercially Reasonable Efforts” shall mean, with respect to the efforts to be expended by
a Party with respect to the achievement of an applicable objective under this Agreement, the [***]. 
 “Comparative Study” means a
comparative clinical study of a Product designed to investigate whether there are clinical meaningful differences between a proposed Biosimilar product and a Reference Product in a patient population and that is intended to support a BLA of such
Product in the Territory. 
 “Competing Product” shall mean with respect to a Product (i) any Biosimilar containing in respect of
AVT02, adalimumab (including, for the sake of clarity, a [***] product), AVT04, ustekinumab, AVT05, golimumab, AVT06, aflibercept or AVT16 [***], whether as a monotherapy or in combination with any other molecule, (ii) any Biosimilar to the
Reference Product for any of the Products, or (iii) any Reference Product for any of the Products. 
 “Complaint” shall mean a
written, electronic or oral communication or expression of dissatisfaction that alleges deficiencies related to the Product, including, without limitation, identity, quality, labeling, safety, accuracy or performance of the Product. 

“Completion Date” shall have the meaning set forth on Schedule H. 

“Confidential Information” shall mean all information not known to the general public or of a confidential nature disclosed (whether it
exists in writing, verbally, electronically, or in any other form) by or on behalf of one Party (“Disclosing Party”) to the other Party (“Receiving Party”) under this Agreement, including, without limitation, any
information relating to (i) the existence and terms of this Agreement and the transactions contemplated hereby and all proprietary information, data and/or know-how disclosed by either Party and/or its
Affiliates to the other Party and/or its Affiliates, including, without limitation, concerning the Products, or concerning the technology, development, manufacturing or Commercialization strategies or business of the Disclosing Party (whether
disclosed prior to on or subsequent to the Effective Date), (ii) proprietary, non-public tangible and intangible techniques, information, technology, practices, trade secrets, inventions (whether patentable or
not), methods, knowledge, know-how, conclusions, skill, experience, test data and results (including pharmacological, toxicological and clinical test data and results), analytical and quality control data,
results or descriptions, software and algorithms, including works of authorship, (iii) the manufacture, testing and price of, Complaints about (except as are required to be disclosed to any Regulatory Authority), Regulatory Approvals for,
customers of, or defects in, the Products (including any copyright arising or related to such information), (iv) a Party’s inventions, discoveries, improvements, methods, products, finances, operations, processes, plans, product
information (including new or prototype products), know-how, design rights, trade secrets, market opportunities, commercialization assessments and plans, regulatory information, customer and supplier
information and business affairs, and (v) the provision of any Product. Confidential Information shall not include information, data or know-how that the Receiving Party can readily show in writing:
(a) was in the public domain at the time of the disclosure by the 

  
 5 

 
Disclosing Party, or thereafter becomes part of the public domain without any fault of the Receiving Party; (b) rightfully was in, or rightfully comes into, its possession prior to the
disclosure by the Disclosing Party; (c) was or is lawfully obtained from a Third Party who had the right to make such disclosures as evidenced by written records; or (d) was or is developed by it independently of any Confidential
Information of the other Parties, the development of which is evidenced by written records. 
 “Contract Year” shall mean a twelve
(12)-month period commencing as of January 1 and ending as of December 31; provided that, for the purposes of this Agreement, the first Contract Year shall commence on the Effective Date and end on December 31, 2020, and the
last Contract Year shall commence on January 1 and end on the date of termination or expiration of this Agreement. 
 “Develop” or
“Development” shall mean, with respect to a Product, those research, preclinical, non-clinical and clinical drug development activities, including one or more comparative studies, that are
necessary to obtain BLA Approval for the Product, including, where applicable (i.e. in respect of [***] and such other Products as are agreed by the Parties in accordance with this Agreement (if any)), BLA Approval of the Product as an
interchangeable biosimilar for the Initial Indications. For clarity, Development does not include the conduct of any Clinical Study other than the Clinical Studies necessary to obtain BLA Approval for the Product as a Biosimilar or as an
interchangeable Biosimilar for the Initial Indications; 
 “Development Costs” shall have the meaning set forth in Schedule B to
this Agreement. 
 “Development Plan” shall mean the development plan, including timelines, attached as Schedule B to this
Agreement. 
 “DHFs” shall mean have the meaning set out in Section 3.1.1(d). 

“Disclosing Party” shall mean the Party disclosing Confidential Information to the Receiving Party. 

“Discretionary Studies” shall mean any studies initiated by either Party that are not required by the Regulatory Authorities in the Territory
as a condition for BLA Approval of a Product or as part of the Development of the Product. 
 “Dispute” shall mean any dispute arising
between the Parties relating to, arising out of, or in any way connected with this Agreement including with respect to the performance by either Party of its obligations hereunder. 

“EBIT” shall mean earnings before interest and taxes. 

“EBIT Margin” shall mean EBIT divided by net revenue. 

“Effective Date” shall mean the date set forth in the preamble. 

  
 6 

 “Estimated Approval Date” shall have the meaning set forth in
Section 3.1.1(i). 
 “Executive Officer” shall mean a relevant senior executive from Teva (appointed by Teva for
purposes of resolving a particular dispute) and a senior executive from Alvotech (appointed by Alvotech for purposes of resolving a particular dispute), with appropriate subject matter expertise. 

“Exercised Product” shall have the meaning set forth in Section 2.2.2(c). 

“FCPA” shall mean the United States Foreign Corrupt Practices Act. 

“First Commercial Sale” shall mean, with respect to a given Product, the date on which Teva, one of its Affiliates, Wholesaler Affiliates,
sublicensees or subcontractors makes the first sale of a Product [***]. 

“First-to-Market” shall mean, with respect to a given
Product, the Launch of such Product occurring at least [***] days prior to any other Biosimilar to the Specific Reference Product for such Product 

“Follow-On Indications” shall mean the Follow-On Indications
for the applicable Product as set forth in Schedule A. 
 “Follow-up Audit” shall have the
meaning set forth on Schedule H. 
 “Force Majeure Event” shall mean any cause or circumstance preventing, hindering or delaying
either Party or its Affiliates, Wholesaler Affiliates or subcontractors or sublicensees performing all or part of its obligations under this Agreement which arises from or is attributable to acts, events, omissions or accidents beyond the reasonable
control of the Party or its Affiliates, Wholesaler Affiliates or subcontractors or sublicensees (including, without limitation, acts of God, acts of civil or military authority including governmental priorities, strikes or other labor disturbances,
fires, floods, epidemics, pandemics, wars, terrorism, or riots). 
 “Full Label” shall mean, with respect to a Product, having an FDA-approved label bearing all indications [***], without any limitations or qualifications, compared to its Specific Reference Product. 

“Future Product” shall mean any Biosimilar that Alvotech may develop or acquire to any product other than any Specific Reference Product;
provided that Future Products shall not include Biosimilars to [***]. 
 “GAAP” shall mean generally accepted accounting principles, also
called US GAAP, which is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) of the United States, consistently applied, as in effect from time to time. 

  
 7 

 “Government Official” shall mean any of the following: (i) any official (elected,
appointed, or career) or employee of a federal, national, state, local, or municipal government or any department, agency, or subdivision thereof; (ii) any officer or employee of a government-owned or controlled enterprise, company, or
organization (e.g., a healthcare professional practicing at a government-owned or controlled hospital or clinic); (iii) any officer or employee of a public international organization (e.g., UN, World Bank, EU, WTO, NATO); (iv) any individual acting
for or representing a government or any of the organizations referred to above, even if such individual is not an employee of such government or organization; (v) any individual who is considered to be a government official under applicable
local law; (vi) any candidate for political office; and (vii) any official of a political party. 
 “Indemnified IP Matters”
shall have the meaning set forth in Section 9.1.1. 
 “Initial Indications” shall mean the Initial Indications for the applicable
Product as set forth in Schedule A. 
 “Initial Label” shall mean a label for a Product which includes all the Initial Indications,
unless otherwise agreed in writing by the Parties pursuant to a review by the Joint Patent Committee with respect to any issues relating to the Intellectual Property Rights of Third Parties. 

“Initial Press Release” shall mean a mutual press release to announce the execution of this Agreement in a form substantially similar to the
form attached hereto as Schedule E. 
 “Initial Term” shall mean a period of ten (10) years from the First Commercial Sale in
which this Agreement shall continue in force, on a Product-by-Product basis. 

“Intellectual Property Rights” shall mean all rights, privileges and priorities provided under federal, state, foreign and multinational
law relating to intellectual property, including without limitation [***]. 
 “Interchangeable” or “Interchangeability”
shall mean a biological product that meets safety standards for determining interchangeability pursuant to Section 351(k)(4) of the PHS Act permitting, subject to applicable state laws, such biological product to be substituted for its
Reference Product without the intervention of the health care provider who prescribed the Reference Product. 
 “IPO” means the admission
of the whole of any class of the issued share capital of Alvotech Parent or any of its Affiliates (including Alvotech) to trading on a regulated market or other recognised investment exchange. 

“IPR Claims” shall have the meaning set forth in Section 9.1.4. 

“Joint Committee” shall be a committee comprised of equal numbers of representatives of Teva and Alvotech which is to be established by the
Parties within [***] days following the Effective Date of this Agreement, in order to facilitate the optimization of the Development, Commercialization, regulatory, strategies and activities contemplated by this Agreement, and supplies. 

 

  
 8 

 “Joint Patent Committee” shall be a committee comprised of equal numbers of representatives
of Teva and Alvotech which is to be established by the Parties within [***] days following the Effective Date of this Agreement, in order to facilitate the optimization of the Intellectual Property strategy activities contemplated by this Agreement.

 “Lack of Commercial Viability” shall mean, with respect to a Product, Teva has reasonably demonstrated to Alvotech that the Launch or
continued Marketing of such Product would not be financially viable for Teva in light of [***]. 
 “LAR Losses” shall have the meaning set
out in Section 4.1.4. 
 “Launch” shall mean for each Product, the First Commercial Sale of that Product in the Territory; 

“Launch-at-Risk” shall mean a Launch prior to the expiration
of all relevant (as determined by the Joint Patent Committee) Patents (or extensions) or revocation of all relevant (as determined by the Joint Patent Committee) Patent applications of a Third Party covering the applicable Product in the Territory,
including all Patents listed in any list provided under 351(l)(3)(A) or of the PHS Act with respect to the applicable Product, and [***]. 
 “Launch
Date” shall, for each Product, mean the established date on which Teva (or its Affiliate) actually makes its First Commercial Sale of such Product [***]. 

“License Fee” shall mean an aggregate sum of up to Sixty Five Million U.S. Dollars ($65,000,000) paid or payable in accordance with
Section 6.1.1(a). 
 “Market” (including variations such as “Marketing” or “Marketed”) shall mean
all processes and activities conducted to establish and maintain sales for a Product, including to promote (including through websites and social media), obtain market access, distribute, use, handle, market (including communication with potential
customers prior to Launch regarding the availability of each Product), advertise, store, transport, distribute, import, offer for sale, sell, price, detail, obtain and address reimbursement, design strategies for and oversee and implement activities
designed to ensure or improve appropriate medical use of a Product, including medical liaison activities. 
 “Material Adverse Effect”
shall mean any change, effect, event or occurrence that is [***]. 
 “Material Safety Issue” means that there is an unacceptable potential
risk of harm to humans, beyond the reasonable control of the Parties, which risk is assessed based upon [***]. 
 “Milestone Event” shall
have the meaning set out in Section 6.2. 

  
 9 

 “Milestone Payment” and collectively, the “Milestone Payments” shall have
the meaning set out in Section 6.2. 
 “Negotiation Period” shall mean a [***] day period commencing on the date of Alvotech’s
receipt of notice from Teva of its desire to enter into negotiations regarding proposed terms for a development and license agreement for a Future Product, as extended, if at all, by mutual written agreement of the Parties. 

“Net Sales” shall mean, with respect to a Product sold in the Territory, the aggregate gross sales amount invoiced by Teva, its Affiliates or
its Wholesaler Affiliates on an arms-length basis to Third Parties, less the following deductions as applicable, all determined in accordance with Teva’s standard practices for other pharmaceutical products, consistently applied: 

 

	 	(i)	 [***] 

  

	 	(ii)	 [***]; 

  

	 	(iii)	 [***]; 

  

	 	(iv)	 [***]; 

  

	 	(v)	 [***]; 

  

	 	(vi)	 [***]; 

  

	 	(vii)	 [***]; 

  

	 	(viii)	 [***]; and 

  

	 	(ix)	 [***]. 

The transfer of Product between any of Teva, any of its Affiliates, Wholesaler Affiliates or any of Teva’s sublicensees shall not be considered Net
Sales. In addition, [***] shall not result in any Net Sales. 
 “OECD” shall mean the Organization for Economic Co-operation and Development. 
 “OECD Convention” shall mean the convention on combating bribery of
foreign public officials in international business transactions, adopted by the OECD and effective as of February 15, 1999, as amended from time to time. 

“Party or Parties” shall mean Teva on the one hand, and Alvotech on the other hand. 

“Person” shall mean any individual, partnership, association, corporation, limited liability company, trust, or other legal person or entity.

  
 10 

 “Personnel” shall mean a Party and its Affiliates’ directors and officers, and any of
such Party’s or its Affiliates’ employees, external agents, or consultants that may reasonably be expected to perform in accordance with this Agreement. 

“Pharmacovigilance Agreement” shall mean a pharmacovigilance agreement detailing the Parties’ respective pharmacovigilance obligations
with respect to the Products in the Territory. 
 “PHS Act” shall mean the Public Health Services Act (Title 42, U.S.C., Chapter 6A). As
used herein the PHS Act shall refer, more specifically, to 42 USC § 262, which governs the regulation of biological products. 

“Product” or “Products” shall mean (i) the complete final, formulated, filled, finished, labeled, packaged (including
any devices, water-for-injection or other components), and released form of AVT02, AVT04, AVT05, AVT06 and AVT16, as applicable (ii) if applicable, any other
products controlled by Alvotech or any of its Affiliates that are Biosimilar to any of the following Reference Products: Humira, Stelara, Simponi, Eylea, or [***], respectively, and (iii) all such formulations, presentations, concentrations,
dosage forms or strengths, forms of administration, dosing or dosage regimens, or administration regimen of or for any of the foregoing in clause (i) as are set out, or agreed, in the Product Supply Agreement, excluding, with respect to a [***]
of AVT02. 
 “Product Supply Agreement” shall mean the product supply agreement between the Parties, attached hereto as Schedule D.

 “Purchase Order” shall mean each individual purchase order for the sale and purchase of Product(s). 

“Quality Agreement” shall mean a quality agreement setting forth in detail the quality assurance arrangements, compliance with regulatory
obligations, adherence to cGMP, Applicable Law, and conduct of timely investigations as well as audit rights with respect to the Products in the Territory. 

“Quality Expert” shall have the meaning set forth on Schedule H. 

“Quality Plan and Requirements” shall mean the Quality Plan and related terms and conditions set forth on Schedule H attached hereto
and incorporated herein by reference. 
 “Readiness Date” shall have the meaning set forth on Schedule H. 

“Recall” shall mean a recall, market withdrawal, withholding from the market or other similar action with respect to the Product. 

“Receiving Party” shall mean the Party receiving Confidential Information from the Disclosing Party. 

  
 11 

 “Reference Product” means the single biological product licensed under Section 351(a)
of the PHS Act that is referenced in a BLA application submitted under Section 351(k) of the PHS Act. 
 “Refundable Fee” shall mean
[***] U.S. Dollars ($[***]) per Product, plus all Milestone Payments paid for such Product as of the date such refund is due to Teva. 
 “Regulatory
Approval” shall mean any and all approvals, product and establishment licenses, registrations or authorizations of any kind of the FDA or any applicable Regulatory Authority necessary for the Development, manufacture, use, storage,
importation, export, transport, Commercialization and Marketing of a Product (or any component thereof) in the Territory. 
 “Regulatory
Authority” shall mean FDA or any counterpart of the FDA outside the United States or other national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity with
authority over the Commercialization, distribution, importation, exportation, manufacture, production, use, storage, transport, marketing authorization, or clinical testing and/or sale of a Product. 

“Relevant Party” or “Relevant Parties” means Alvotech or any of its Affiliates or their respective authorised sub-licensees, transferees, assignees, distributors or successors, and any authorised sub-licensee, transferee, assignee, distributor and successor of Alvotech; 

“Renewal Term” shall have the meaning set forth in Section 12.1. 

“Reporting Period” shall have the meaning set forth in Section 7.1.6. 

“Reversion Product” shall have the meaning set forth in Section 12.7.3(a). 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Sell-Off Period” shall mean a period during which Teva shall be entitled, but not required, to sell
any then-existing inventory of the Products which remains on hand or are to be supplied under Purchase Orders on or before the date of expiration or termination of this Agreement which period shall expire the earlier of (i) [***] months following
the expiration or termination of this Agreement or (ii) depletion of all of the inventory of such Products. 
 “Specifications” shall
mean with respect to a particular Product, the specifications set forth for such Product in the Product Supply Agreement. 
 “Specific Reference
Product” shall mean in respect of each Product the Reference Product that is described against that Product as its specific reference product in Schedule A. 

“Tax Authority” shall mean any taxing or other governmental (local or central), state or municipal authority competent (wherever situated) to
impose any liability for, or to collect, a tax. 

  
 12 

 “Term” shall mean the Initial Term, together with any Renewal Terms. 

“Territory” shall mean the United States, and each of its territories, districts and possessions including the Commonwealth of Puerto Rico.

 “Teva” shall have the meaning set forth in the preamble. 

“Teva Liabilities” shall mean any liabilities, charges, costs, or expenses, including reasonable attorneys’ fees and settlement payments
that arise from any Third Party Claim resulting from [***]. 
 “Third Party” shall mean any Person other than Alvotech, Teva and their
respective Affiliates. 
 “Third Party Claim” shall have the meaning set out in the definition of Alvotech Liabilities. 

“Unresolved Matter” shall mean a matter which the Joint Committee or Joint Patent Committee is, after a period of [***] Business Days from
the date a matter is submitted in writing to it for resolution, unable to make a decision due to a lack of consensus between the representatives of Alvotech and of Teva. 

“Urgent Unresolved Matter” shall mean a matter which either co-chairperson of the Joint Patent
Committee believes is urgent in nature and with respect to which consensus has not been achieved within the Joint Patent Committee within [***] of its submission to the Joint Patent Committee. 

“Wholesaler Affiliate” shall mean any entity that directly or indirectly controls, is controlled by or is under common control with Teva, but
is exclusively engaged in the business of wholesale distribution of pharmaceutical products in the United States (for example, Anda, Inc.). 

SECTION 2 – GENERAL ARRANGEMENTS 
  

	2.1	 Grant of Rights. 

2.1.1 Subject to the terms of this Agreement, including Section 2.1.5, Alvotech, on behalf of itself and its Affiliates,
hereby grants to Teva in the Territory in respect of each Product: (a) the sole and exclusive right and license (even as to Alvotech and its Affiliates), with the right to sublicense through multiple tiers, to use and have used, import and have
imported, Commercialize and have Commercialized, Market and have Marketed the Product; (b) the exclusive right to reference (i) the registration dossiers of such Product for its BLA Approval, (ii) its BLA Approval and (iii) all
Clinical Studies (pivotal and non-pivotal) conducted by or on behalf of Alvotech with respect to the Development of such Product (and the results related thereto) for purposes of obtaining its applicable BLA
Approval, and (c) the exclusive right and license (even as to Alvotech and its Affiliates), with the right to sublicense 

  
 13 

 
through multiple tiers, to use and have used all Alvotech Intellectual Property Rights in respect of such Product in the Territory necessary to exercise Teva’s rights and to perform its
obligations under this Agreement, in each case, subject to Section 2.3.2. For the avoidance of doubt, it is intended that Alvotech US will apply for and maintain BLA Approvals for the Products in the Territory as a Relevant Party of Alvotech.
Alvotech shall remain fully liable for its obligations under this Agreement, including taking such actions as are necessary to enable the performance of its respective obligations under this Agreement. 

2.1.2 Teva will have the right to grant sublicenses under its rights in Section 2.1.1 to its Affiliates without the
approval of, but on giving written notice to, Alvotech, and to any Third Party with the approval of Alvotech, such approval not to be unreasonably withheld, delayed or conditioned. Teva shall procure that any sublicenses through multiple tiers
(including with Third Parties) will be granted and governed by written agreements and will be subject to the terms and conditions of this Agreement. Teva shall maintain oversight and control over all such sublicensees, will be and remain responsible
for ensuring its sublicensees’ compliance with this Agreement and shall remain liable to Alvotech for the acts and omissions of such sublicensee as if they were the acts or omissions of Teva itself. 

2.1.3 Alvotech and its Affiliates shall not directly or indirectly manufacture or supply to any Third Party any of the Products
in or for sale or use in the Territory before expiry or earlier termination of the Term. 
 2.1.4 Subject to the terms of
this Agreement, Teva hereby grants to Alvotech and its Affiliates all necessary rights under Teva’s Intellectual Property Rights to use Teva’s Intellectual Property Rights Term to the extent necessary to allow Alvotech and its Affiliates
to exercise their rights in, and perform their obligations, under this Agreement. 
 2.1.5 Notwithstanding
Section 2.1.1, Alvotech and its Affiliates retain (i) non-exclusive rights under Alvotech’s Intellectual Property Rights in respect of each Product in the Territory as is necessary to perform
their obligations under this Agreement and the Product Supply Agreement, and (ii) exclusive rights (as to Teva) to Alvotech’s Intellectual Property Rights in respect of each Product outside the Territory, in each case subject to
Section 2.3.1. 
 2.1.6 Notwithstanding anything contained herein, or elsewhere, to the contrary, except as expressly
set forth hereunder, nothing in this Agreement shall be construed to grant to any Party or its Affiliates by implication, estoppel or otherwise any licenses under Intellectual Property Rights owned or controlled by any other Party. 

  
 14 

	2.2	 Right of First Negotiation. 

2.2.1 For a period of [***] years from the Effective Date, Teva shall have the right of first negotiation, for
Commercialization and Marketing rights in the Territory with respect to any Future Product. 
 2.2.2 If during the Term of
this Agreement, Alvotech or any of its Affiliates decides to, directly or indirectly, through any Third Party, commercialize a Future Product in the Territory, Alvotech will so notify Teva in writing and Teva shall have the first opportunity to
negotiate the Commercialization and Marketing rights to such Future Product in the Territory. In such case, the following procedures shall apply: 
  

	 	(a)	 Within [***] Business Days after providing notice to Teva of Alvotech’s decision to commercialize a Future
Product, Alvotech shall invite Teva in writing to enter into negotiations, setting forth, in such invitation, Alvotech’s proposed terms for a license and development agreement with respect to the Future Product, as applicable, and material data
with respect to the development of such Future Product as shall be reasonably sufficient for Teva to assess the Future Product; 

  

	 	(b)	 If Teva wishes to enter into such negotiations, Teva shall, within [***] days following receipt of
Alvotech’s invitation, deliver to Alvotech written notice of Teva’s intent to negotiate for rights to the Future Product; 

  

	 	(c)	 If Teva provides such notice, then for the Negotiation Period, the Parties shall negotiate in good faith and
exclusively with each other for Commercialization and Marketing rights to such Future Product in the Territory (any Future Product for which the Parties reach a definitive binding agreement for such rights, an “Exercised Product”);

  

	 	(d)	 If Teva does not deliver to Alvotech written notice of its intent to negotiate for such rights within the
period specified in Section 2.2.2(b), then Alvotech shall be free thereafter to negotiate and enter into a license and development agreement or similar agreement for the Future Product in the Territory, with any Third Party; and

  

	 	(e)	 If the Parties have not entered into a legally binding, written agreement by the expiration of
the Negotiation Period, or by such earlier date as the Parties may mutually agree, Alvotech shall be free thereafter to negotiate and enter into a license and development agreement or similar agreement for the applicable Future Product or Exercised
Product in the Territory, with any Third Party. 

  
 15 

 2.2.3 It is the understanding of the Parties that the following transactions
shall not be subject to the right of first negotiation described in this Section 2.2: 
  

	 	(a)	 [***]; 

  

	 	(b)	 [***]; nor 

  

	 	(c)	 [***]. 

  

	2.3	 Covenant Not to Compete. 

2.3.1 During the Term of this Agreement, Alvotech and its Affiliates shall not, directly or indirectly through a Third Party,
develop, manufacture, Market, promote, seek or obtain Regulatory Approval for, perform or process for commercial use, sell or offer for sale, import or Commercialize, or otherwise make available (nor assist a Third Party to do any of the foregoing)
any Competing Product, to any Person in or for the Territory, except to the extent that any development in the Territory is for the purpose of use or registration, sale or marketing outside the Territory. 

2.3.2 During the Term of this Agreement, Teva and its Affiliates shall not, directly or indirectly through a Third Party,
develop, manufacture, Market, promote, seek or obtain Regulatory Approval for, perform or process for commercial use, sell or offer for sale, import or Commercialize, or otherwise make available (nor assist a Third Party to do any of the foregoing)
any Competing Product, to any Person in or for the Territory, except to the extent that any development in the Territory is for the purpose of use or registration, sale or marketing outside the Territory. 

2.3.3 Without limitation to the foregoing or any potential remedy of Teva under this Agreement and subject to Applicable Law,
during the Term of this Agreement, (a) Alvotech and its Affiliates shall not knowingly sell or provide a Product or any Competing Products to any Third Party, if Alvotech or its relevant Affiliate knows, that Competing Products sold or provided
to such Third Party by or on behalf of Alvotech or its Affiliate, will or are highly likely to be sold or transferred directly for use in the Territory; and (b) if requested by Teva, Alvotech shall reasonably consider providing reasonable
assistance to Teva in taking reasonable action against any Third Party to whom Alvotech or its Affiliate has sold or provided a Product or any Competing Product, or to whom it has directly granted any rights with respect to a Product or any
Competing Products, that Teva becomes aware is engaging in the direct or indirect sale or transfer of such Product or Competing Product for use in the Territory and (c) the Parties agree that from the Launch Date of a Product Teva shall have
the exclusive right (including as to Alvotech or its Affiliates) to Market, sell and supply any Products to Third Parties in the Territory, including for use in Clinical Studies in combination with a Third Party Product, and Teva shall have the
right to provide the applicable Certificates of Conformance and Certificates of Analysis in connection with such sales. 

  
 16 

	2.4	 Rights outside the Territory. 

2.4.1 Alvotech will discuss with Teva from time to time during the Term opportunities to Market the Products or Future Products
in any country or territory outside the Territory. 
 SECTION 3 – DEVELOPMENT AND REGULATORY APPROVAL OF THE PRODUCTS 

 

	3.1	 Roles and Responsibilities. 

3.1.1 Subject to the provisions of and during the Term of this Agreement, Alvotech or the Relevant Party where applicable shall
use Commercially Reasonable Efforts to perform the following in accordance with the applicable Development Plan: 
  

	 	(a)	 complete Development of each of the Products by obtaining the BLA Approval required for Teva to Launch the
Products in the Territory and promptly provide Teva with a full copy of the BLA Approval; 

  

	 	(b)	 [***]; 

  

	 	(c)	 [***]; 

  

	 	(d)	 [***]; 

  

	 	(e)	 [***]; 

  

	 	(f)	 [***]; 

  

	 	(g)	 [***]; 

  

	 	(h)	 [***]; 

  

	 	(i)	 [***]; 

  

	 	(j)	 [***]; 

  

	 	(k)	 [***]; 

  

	 	(l)	 [***]; 

  

	 	(m)	 [***]; and 

  

	 	(n)	 [***]. 

  

  
 17 

 3.1.2 Teva shall have the right, at Teva’s own expense, [***]. 

3.1.3 Teva shall not conduct any experimental, non-clinical, pre-clinical, clinical or other research, study or test of any kind (including a Clinical Study) with any Product without the prior written consent of Alvotech. 

 

	3.2	 Development Costs. 

3.2.1 The initial Development Plan as of the Effective Date, including timelines, is attached as Schedule B and
incorporated by reference herein. 
 3.2.2 Alvotech will fund one-hundred percent
(100%) of the Development Costs under the Development Plan. After approval of a Product, the costs of any Discretionary Studies for such Product will be shared as may be mutually agreed to by the Parties and set forth in an amendment to the
applicable Development Plan for such Product. 
 SECTION 4 – COMMERCIALIZATION 

 

	4.1	 Commercialization. 

4.1.1 Subject to the provisions of, and during the Term of this Agreement, Teva shall use Commercially Reasonable Efforts to
Commercialize and Market each Product in the Territory after the relevant BLA Approval is granted for such Product. 
 4.1.2
Following BLA Approval of a Product Teva shall use Commercially Reasonable Efforts to undertake the First Commercial Sale of that Product in the Territory as soon as reasonably practicable following the last of the following events to occur, in each
case in respect of that Product [***]. 
 4.1.3 For purposes of this Section 4.1, the Joint Patent Committee shall find
it persuasive that that there is an absence of “reasonable likelihood of infringement of Intellectual Property Rights of a Third Party” [***]. 

4.1.4 For the avoidance of doubt neither Party may be required by the other Party to agree to proceed by way of a Launch-at-Risk. In the absence of mutual agreement (which shall extend to agreement of an allocation of the LAR Losses between the Parties), Teva may insist on proceeding with
a Launch-at-Risk in the Territory, provided it agrees in writing in advance to indemnify (and keep indemnified) Alvotech and its Affiliates for all costs and losses
comprising judgments, damages or settlement costs (including reasonable attorney’s fees) asserted against the Product or asserted against any Party or any Affiliate or 

  
 18 

 
sublicensee of any Party in relation to the Commercialization of the Product and arising from such Launch-at-Risk
(including by settlement) in the Territory (“LAR Losses”). If Teva intends to or is seriously considering commercially undertaking a Launch-at-Risk of
the Product in the Territory, then as soon as reasonably practicable following such determination [***]. For the avoidance of doubt, nothing in this Section 4.1.4 limits or derogates from the forecasting or lead time requirements under the
Product Supply Agreement. 
 4.1.5 Teva will be solely responsible for, bear the cost of, and have the exclusive right to
undertake the execution of medical and scientific affairs and programs, including professional symposia and other educational activities, and medical affairs studies in the Territory. 

4.1.6 Teva will be fully responsible for any costs or expense related to (i) responding to and engaging in correspondence
with Regulatory Authorities competitors, or other Third Parties alleging that Teva’s Marketing and Commercialization practices violated Applicable Law, subject to Teva’s providing Alvotech with an opportunity to review and comment on any
such responses or correspondence with at least [***] business days’ prior notice and considering in good faith any input provided by Alvotech thereto; and (ii) resolving such allegations. 

4.1.7 Teva will maintain records and otherwise establish procedures to ensure compliance with all Applicable Laws and
professional requirements that apply to the Commercialization of Product. 
  

	4.2	 Pricing. 

4.2.1 Teva shall have sole and final decision making authority regarding the commercial prices of the Products in the
Territory.
  

	4.3	 Trademarks & Domains; Advertising and Promotional Materials; Educational
Materials. 

 4.3.1 Save in respect of the trademark relating to AVT02, the rights to which in the
Territory shall be assigned to Teva by Alvotech as soon as reasonably possible following the Effective Date of this Agreement, Teva will solely own all right, title and interest in and to any trademarks and internet domains adopted for use with
Products in the Territory, and will be responsible for the registration, filing, maintenance and enforcement thereof. Neither Alvotech nor any of its Affiliates will at any time do or authorize to be done any act or thing which is likely to
materially impair the rights of Teva therein, and will not at any time claim any right of interest in or to such marks, domains or the registrations or applications therefor. Teva shall not use or display the trademarks in any manner that reasonably
would be expected to dilute, tarnish, disparage or reflect adversely on Alvotech. Neither Alvotech nor any of its Affiliates will use Teva’s or any of its Affiliates’ trademarks or internet domains or any confusingly similar trademarks or
domains in a manner that might amount to infringement, dilution, unfair competition or passing off of any of Teva’s or any of its Affiliates’ trademarks or domains without Teva’s consent. 

  
 19 

 4.3.2 All Ad/Promo Materials shall be created, developed and approved by
Teva in compliance with Applicable Laws and subject to Alvotech having a reasonable opportunity to review and comment on drafts of Ad/Promo Materials in advance and be informed as to resolution of those comments. Teva shall provide final copies of
Ad/Promo Materials to Alvotech as submitted to OPDP. All Ad/Promo Materials produced by Teva under this Agreement are and shall remain the property of Teva. Alvotech shall not use any Ad/Promo Materials produced by Teva other than as expressly
permitted by this Agreement. Alvotech shall provide written notification to the FDA that with respect to each Product, Teva shall be fully responsible for assuring the content of all materials is consistent with OPDP requirements and Applicable Laws
and, as Alvotech’s agent, communicating directly with FDA with respect to the Ad/Promo Materials, including submitting the Ad/Promo Materials electronically at time of first use under such Product’s BLA. Alvotech shall provide Teva with
appropriate submission level metadata (or a sequence) to submit the Ad/Promo Materials at time of first use. Teva shall provide to Alvotech in a timely manner (within [***] Business Days) of all correspondence from FDA regarding Ad/Promo Materials
or medical/scientific materials related to a Product. 
 4.3.3 Alvotech shall reasonably consider providing Teva with drafts
or final versions of any educational or training materials regarding the use and administration of the Products to the extent Alvotech is not restricted from sharing such documents with Teva. 

 

	4.4	 Quality Agreement; Quality Plan and Requirements. No later than [***] months following the
Effective Date of this Agreement, the Parties shall enter into the Quality Agreement. Such Quality Agreement shall be incorporated by reference into this Agreement. In the event of a conflict between any provision of this Agreement and the Quality
Agreement, this Agreement will govern except with respect to compliance with cGMPs and regulatory obligations as they pertain to the Product, which will be governed by the Quality Agreement. Any amendments or revisions to the Quality Agreement must
be approved by both Parties in writing. Without limiting the foregoing, the Parties shall undertake the quality activities set forth in the Quality Plan and Requirements set forth on Schedule H. 

 

	4.5	 Pharmacovigilance Agreement. The pharmacovigilance requirements as presented in the
current FDA guidelines shall be followed by the Parties in the Territory. The Parties will enter into the Pharmacovigilance Agreement no later than [***] months prior to the Launch Date of the first Product in the Territory. Teva shall carry out its
responsibilities under the Pharmacovigilance Agreement on behalf of its Affiliates that Market the Products in the Territory. Such Pharmacovigilance Agreement shall be incorporated by reference into this Agreement. Any amendments or revisions to the
Pharmacovigilance Agreement must be approved by both Parties in writing. 

  
 20 

 SECTION 5 – PRODUCT SUPPLY AGREEMENT 

 

	5.1	 Sale and Purchase of Product. As of the Effective Date, the Parties have entered into the Product
Supply Agreement attached hereto as Schedule D. 

 SECTION 6 FINANCIAL TERMS FOR LICENSE AND DEVELOPMENT.

  

	6.1	 License Fees and Milestone Payment. 

6.1.1 In consideration for the rights granted by Alvotech to Teva under this Agreement, and subject to the terms herein,
following the Effective Date, Teva shall pay or cause to be paid in cash (a) (i) Forty Million U.S. Dollars ($40,000,000) of the License Fee to Alvotech within [***] days of the Effective Date, and (ii) the remaining Twenty Five Million
U.S. Dollars ($25,000,000) of the License Fee to Alvotech on [***]; and (b) provided that [***] an additional one-time, Milestone Payment (as defined below) equal to [***] U.S. Dollars ($[***]) on the
later to occur of (1) [***] and (2) [***]. 
 6.1.2 The Refundable Fee for each Product shall be refunded to Teva, as
follows: 
  

	 	(a)	 In the event that Alvotech (or the Relevant Party) fails to obtain BLA Approval for AVT02 within [***] months
of the Estimated Approval Date for AVT02, or upon the earlier occurrence of a BLA Failure Event for AVT02 (the “AVT02 Refund Date”), Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following the
AVT02 Refund Date. 

  

	 	(b)	 In the event of the earliest to occur of (i) Comparative Study Failure (as defined below) for AVT04, (ii)
Alvotech (or the Relevant Party) fails to obtain BLA Approval by the FDA for AVT04 within [***] months of the Estimated Approval Date for AVT04, or (iii) upon the occurrence of a BLA Failure Event for AVT04 (such event, the “AVT04
Refund Date”), Alvotech shall refund the Refundable Fee to Teva no later than [***] days following the AVT04 Refund Date, provided that, if the AVT04 Refund Date occurs under the foregoing clause (ii), then the AVT04 Refund Date will be
extended up to the date that is [***] months following the Estimated Approval Date for AVT04 in the event there is no Comparative Study Failure and the delay of BLA Approval for AVT04 was due to a delay in the FDA’s review process that was
outside Alvotech’s reasonable control. For clarity and save as provided below, Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following such extended AVT04 Refund Date regardless of any delay in the FDA’s
review process that is outside Alvotech’s (or the Relevant Party’s ) reasonable control. 

  

  
 21 

	 	(c)	 In the event of the earliest to occur of (i) Comparative Study Failure for AVT05, (ii) Alvotech (or the
Relevant Party) fails to obtain BLA Approval by the FDA for AVT05 within [***] months of the Estimated Approval Date for AVT05, or (iii) the occurrence of a BLA Failure Event for AVT05 (such event, the “AVT05 Refund Date”),
Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following the AVT05 Refund Date, provided that, if the AVT05 Refund Date occurs under the foregoing clause (ii), then the AVT05 Refund Date will be extended up to the
date that is [***] months following the Estimated Approval Date for AVT05 in the event there is no Comparative Study Failure and the delay of BLA Approval for AVT04 was due to a delay in the FDA’s review process that was outside Alvotech’s
reasonable control. For clarity and save as provided below, Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following such extended AVT05 Refund Date regardless of any delay in the FDA’s review process that is
outside Alvotech’s (or the Relevant Party’s) reasonable control. 

  

	 	(d)	 In the event of the earliest to occur of (i) Comparative Study Failure for AVT06, (ii) Alvotech (or the
Relevant Party) fails to obtain BLA Approval by the FDA for AVT06 within [***] months of the Estimated Approval Date for AVT06, or (iii) the occurrence of a BLA Failure Event for AVT06 (such event, the “AVT06 Refund Date”),
Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following the AVT06 Refund Date, provided that, if the AVT06 Refund Date occurs under the foregoing clause (ii), then the AVT06 Refund Date will be extended up to the
date that is [***] months following the Estimated Approval Date for AVT06 in the event there is no Comparative Study Failure and the delay was due to a delay in the FDA’s review process that was outside Alvotech’s control. For clarity and
save as provided below, Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following such extended AVT06 Refund Date regardless of any delay in the FDA’s review process that is outside Alvotech’s (or the
Relevant Party’s) reasonable control. 

  

	 	(e)	 In the event of the earliest to occur of (i) Comparative Study Failure for AVT16, (ii) Alvotech (or the
Relevant Party) fails to obtain BLA Approval by the FDA for AVT16 within [***] months of the Estimated Approval Date for AVT16, or (iii) the occurrence of a BLA Failure Event (such event, the “AVT16 Refund Date”), Alvotech
shall refund the Refundable Fee in cash to Teva no later than [***] days following the AVT16 Refund Date, provided that, if the AVT16 Refund Date occurs under the foregoing clause (ii), then the AVT16 Refund

  
 22 

	 	
Date will be extended up to the date that is [***] months following the Estimated Approval Date for AVT16 in the event there is no Comparative Study Failure and the delay was due to a delay in
the FDA’s review process that was outside Alvotech’s control. For clarity and save as provided below, Alvotech shall refund the Refundable Fee in cash to Teva no later than [***] days following such extended AVT16 Refund Date regardless of
any delay in the FDA’s review process that is outside Alvotech’s (or the Relevant Party’s) reasonable control. 

6.1.3 For purposes of this Section 6.1: 
  

	 	(a)	 “delay in the FDA’s review process outside of Alvotech’s (or the Relevant Party’s)
control” shall exclude any period of time attributable to a delay in the approval of any BLA for a Product resulting from (i) [***], (ii) [***], (iii) [***], and (iv) [***], provided that, in such case, no more than an additional
[***]-months’ resulting from such FDA delay shall be added to the time periods (including all applicable time extensions) provided for in Section 6.1.2. 

 

	 	(b)	 “Comparative Study Failure” shall only apply where a Comparative Study is required for a given
Product and if it is required shall mean, for a given Product, [***]. 

  

	 	(c)	 “BLA Failure Event” shall mean [***]. 

 

	 	(d)	 For the avoidance of doubt, the total aggregate amount of the element of Refundable Fees payable to Teva as
relate to the Licence Fee shall never exceed the License Fee received by Alvotech pursuant to Section 6.1.1. The License Fee does not include the Milestone Payment referred to in Section 6.1.1(b). 

6.1.4 Teva’s rights and remedies provided in Sections 6.1.2 shall be cumulative and in addition to any other rights or
remedies that may be available to Teva, including but not limited to the termination rights set forth in Section 12.4. 
  

	6.2	 Milestones. 

As additional consideration, subject to the provisions of this Section 6.2, Teva will, upon the first achievement of the regulatory and
sales milestones set forth below (each a “Milestone Event”), pay the following payments once for each Product (each, a “Milestone Payment” and collectively, the “Milestone Payments”) to Alvotech:

  

  
 23 

					
	 Milestone Event
	  	Milestone
Payment for
[***] Product	 	Milestone
Payment for
each of
[***] Products
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]

 6.2.1 Each Milestone Payment will become due and payable [***] calendar days after the
occurrence of the corresponding Milestone Event (except, for clarity, [***] for a Product would only be achieved if [***], and will be made in United States dollars by wire transfer to an account designated in writing by Alvotech. Each of the
Milestone Payments will be payable only once per Product upon the first achievement of the corresponding Milestone Event for such Product, regardless of the number of times the Milestone Event is achieved by such Product. For clarity, the Milestone
Payments for Milestone Event 3 with respect to [***], and Milestone Event 4 with respect to [***] will be payable in connection with [***]. The maximum aggregate amount payable by Teva to Alvotech pursuant to this Section 6.2 is [***] U.S.
Dollars ($[***]) (i.e., a maximum of [***] U.S. Dollars ($[***]) for [***] plus a maximum of [***] U.S. Dollars ($[***]) each for [***]). 
  

	6.3	 Withholding Taxes. Each payment to Alvotech referred to in Sections 6.1 and 6.2 represents the
entire consideration payable by Teva and is inclusive of all taxes, of whatsoever nature, including, but not limited, to VAT or other indirect taxation, which are now or may hereafter be imposed. Teva shall not reimburse VAT or other indirect
taxation that Alvotech incurs in connection with such payments, unless (and to the extent that) Teva is able to reclaim or obtain credit for such VAT or other taxation. Both Parties have been advised that there will be no withholding taxes on any
payments due under this Agreement. 

  

	6.4	 Payments; Late Payments. Each License Fee and Milestone Payment will be made in United States
dollars by wire transfer to an account designated in writing by Alvotech. Any fees or payments due and payable to a Party under this Agreement that are not paid by the relevant Party within [***] days of when due shall bear interest at the
annualized rate of the then prime rate (as reported in the Wall Street Journal) plus [***] percent ([***]%). 

  
 24 

	6.5	 Records and Audit. 

6.5.1 Teva shall, and, so far as it is able to do so, shall cause all Relevant Parties to, keep complete, true and accurate
books and records in accordance with its accounting standards in relation to Net Sales for at least [***] years following the calendar year to which they pertain. 

6.5.2 Within [***] days of each applicable calendar quarter until the payment of [***] for a particular Product, Teva will
provide a report to Alvotech including the aggregate gross sales of such Product in the Territory during such calendar quarter, and the corresponding Net Sales calculation for such Product in the Territory during such calendar quarter. 

6.5.3 At Alvotech’s request and expense, (but, at the expense of Teva, if the result of the report by the accountants
under this Section 6.5.3 shows an underpayment by Teva against the applicable report due under Section 6.5.2 of more than [***] percent ([***]%)) (not to be made more than once in any [***] month period unless for cause and not more than
[***] years after delivery of the report setting forth a payment computation), upon reasonable prior notice, Teva will permit a reputable firm of independent accountants mutually acceptable to the Parties (which accountants shall not have
been hired or paid on a contingency basis and which accountants shall have experience auditing both specialty and generics biopharmaceutical companies), to have access at Teva’s offices in the United States or anywhere in the world where the
relevant information and data are retained, upon reasonable written notice and during ordinary working hours to such records as may be necessary for the sole purpose of determining compliance with the Milestone Payment obligations for [***] or [***]
under Section 6.2 and (if applicable) any determination of Teva’s EBIT Margin relevant to a termination under Section 12.4. Such accountants shall sign a confidentiality agreement in form and substance reasonably satisfactory to Teva,
and shall not disclose to Alvotech or any Third Party any information reasonably labeled by Teva as being confidential customer information regarding pricing or other competitively sensitive proprietary information. Alvotech shall provide, without
condition or qualification, Teva with a copy of the report or other summary of findings prepared by such accountants promptly following its receipt of same. 

6.5.4 If as a result of any inaccuracies set forth in such report, any amount(s) paid to Alvotech was deficient or late by more
than [***] days in paying for [***] or [***] under Section 6.2, then Teva shall pay to Alvotech amount equal to the deficiency or late payment. If such report shows that Teva overpaid, then Teva will be entitled to off-set such overpayment against any future amounts owed to Alvotech under Section 6 and an applicable late payment penalty in accordance with Section 6.4 above with respect to the duration of such
delay and also promptly reimburse Alvotech for the reasonable fees of the independent accountants. In the 

  
 25 

 
event of any dispute between Alvotech and Teva regarding the findings of any such inspection or audit, the Parties shall initially attempt in good faith to resolve the dispute amicably between
themselves, and if the Parties are unable to resolve such dispute within a commercially reasonable period of time, such dispute shall be resolved by an accountant from an internationally recognized independent accounting firm that is mutually
agreeable to both of the Parties, and such accountant’s determination shall be binding. In the event that the final report reveals an undisputed underpayment or overpayment, the underpaid or overpaid amount, as applicable, shall be settled
promptly by the relevant Party (as applicable). 
 SECTION 7 - MANAGEMENT AND GOVERNANCE 

 

	7.1	 Joint Committee. 

7.1.1 General. Within [***] days following the Effective Date, the Parties agree to establish the Joint Committee to
facilitate Development, regulatory, manufacturing and supply activities and Launch, Commercialization and Marketing strategies and activities as contemplated by this Agreement. In so doing, the members of the Joint Committee shall act in good faith
to facilitate communication among appropriate constituencies within the Parties and review and guide the planning and execution of Development, regulatory, manufacturing and supply activities and Launch, Commercialization and Marketing strategies
and activities in accordance with this Agreement by the Parties. It is the intent of the Parties that work of the Joint Committee be conducted in a highly cooperative, collaborative manner with open communication as described herein, provided that
the Parties agree that (i) Alvotech shall at all times have final decision making authority in relation to all Development, regulatory, manufacturing and supply activities as contemplated by, and subject to any other applicable terms of, this
Agreement and the Product Supply Agreement; and (ii) without prejudice or limitation to Section 4.1.4, Teva shall at all times have final decision making authority in relation to all Launch, Commercialization and Marketing strategies and
activities as contemplated by, and subject to any other applicable terms of, this Agreement and the Product Supply Agreement, provided, that, in each case, any decision relating to a
Launch-at-Risk shall be determined in accordance with Section 4.1.4. 

7.1.2 Composition and Leadership. The Joint Committee will be comprised of [***] senior executives from Teva and [***]
senior executives from Alvotech. Each Party shall designate a co-chairperson, each of whom may call meetings upon reasonable notice under the circumstances and specify agenda items, exercising reasonable
judgment. Each Party may replace any of its members upon written notice to the other. 

  
 26 

 7.1.3 Subject Matter. It is contemplated that the Joint Committee
shall generally guide the collaboration of the Parties and oversee the performance of the Development Plan and advise regarding any amendments thereto, and focus on issues central to the respective Development, regulatory, manufacturing and supply
strategies and activities of Alvotech, on the one hand, as well as an overview of Teva’s Launch plans and a high-level update of Teva’s Commercialization and Marketing strategies pursuant to this Agreement. The Parties acknowledge and
agree that the Joint Committee shall not have the power or authority to amend any terms or conditions of this Agreement or the Product Supply Agreement, including Estimated Approval Dates as set forth herein, other than by mutual agreement of the
Parties. 
 7.1.4 Working Groups. 
  

	 	(a)	 As of the Effective Date, the Parties agree to establish a “Manufacturing and Development” working
group(s) to facilitate all Development, manufacturing and supply activities as contemplated by this Agreement and the Product Supply Agreement. In so doing, the members of the Manufacturing and Development working group(s) shall act in good faith to
facilitate communication among appropriate constituencies within the Parties and review and guide the planning and execution of all Development, manufacturing and supply strategies and activities in accordance with this Agreement and the Product
Supply Agreement. The Manufacturing and Development working group(s) will be comprised of [***] representatives from Teva and [***] representatives from Alvotech, in each case, that are knowledgeable in the subject matter in the relevant functional
areas from each Party who have the requisite experience and seniority to make and communicate recommendations and decisions in the relevant subject matter areas. The Manufacturing and Development working group(s) shall convene on a quarterly basis,
either in person or by telephone or video conference, and shall provide a reasonably detailed written report of its activities and progress to the Joint Committee within [***] Business Days following the end of each calendar quarter. In the event an
Unresolved Matter arises in the working group, then the working group shall submit the matter to the Joint Committee for consideration. 

  

	 	(b)	 From time to time, the Joint Committee may form and disband working groups to focus on major components of the
Parties’ activities under this Agreement. To the extent working groups are formed, it is contemplated that they shall be comprised of equal numbers of individuals knowledgeable in the subject matter in the relevant functional areas from each
Party who have the requisite experience and seniority to make and communicate recommendations and decisions in the relevant subject matter areas. 

7.1.5 Alliance Management. Each Party shall appoint an Alliance Manager who shall strive to act as the primary point of
contact between the Parties, facilitate a collaborative environment, joint decision making, clear communication and resolution of any deadlocks or disagreements. The Alliance Managers will 

  
 27 

 
manage the administration of the Joint Committee including facilitating attendance at and the conduct of Joint Committee meetings, subject to the input noted in Section 7.1.7 from the co-chairpersons. Each Alliance Manager shall participate in Joint Committee meetings on a non-voting basis and may attend Working Group and Joint Patent Committee meetings as
required. Each Party may change its Alliance Manager by written notice to the other Parties. 
 7.1.6 Reporting.
Beginning on the Effective Date and ending for each Product on Launch of the Product (the “Reporting Period”), each Party shall provide the Joint Committee with such data and information regarding its respective activities under
this Agreement and the Product Supply Agreement as is in its possession as is reasonably requested by a member of the Joint Committee on a periodic schedule (which may vary by type of information required). 

7.1.7 Administration. The co-chairpersons of the Joint Committee shall determine
the frequency, dates and agenda for its meetings, provided it shall meet [***] times per calendar year until all Products obtain FDA approval and [***] times per year afterward. In coordination with the
co-chairpersons, the Alliance Managers shall be responsible for noticing meetings, circulating meeting agenda and related materials at least [***] days in advance and circulating meeting minutes within [***]
days following each meeting. Meetings may be conducted in person, by video conference or by phone and no Party shall be required to attend in person. A reasonable number of non-members employed by or acting as
consultants to the Parties may attend meetings as observers at the invitation of a member, provided all attendees are subject to appropriate confidentiality arrangements and the other members are notified in advance of each such
attendee’s anticipated attendance and role within the relevant Party. Each Party will bear the expense of its respective Joint Committee members’ participation in Joint Committee meetings. 

7.1.8 Consensus and Consideration of Perspectives. The Joint Committee shall operate by consensus. Each
Party shall have one (1) vote; provided that no vote taken at a meeting shall be valid unless a representative of each Party participates in the vote. The Joint Committee shall review and discuss the matters before it in good faith and the
members shall have the right to comment upon and make recommendations to the members of the other Party regarding the other Party’s activities under this Agreement, which recommendations the other Party shall reasonably consider, provided that
the Parties agree that [***]. 
 7.1.9 Disbanding. The Joint Committee will be automatically disbanded effective upon
the expiration or termination of this Agreement. 
  

	7.2	 Joint Committee and Joint Patent Committee Dispute Resolution. 

7.2.1 In the event that an Unresolved Matter arises in the Joint Committee or Joint Patent Committee, then either Teva or
Alvotech may require that the matter be submitted to an Executive Officer from each Party for a joint decision. In such event, except as set forth in Section 7.2.2, a Party may formally request that the dispute be resolved by the Executive
Officers, in a written notice to the other Party identifying the nature of the dispute with sufficient specificity to permit adequate consideration by such Executive Officers. The Executive Officers shall diligently and in good faith, attempt
to resolve the referred dispute within [***] Business Days of receiving such written notification. 

  
 28 

 7.2.2 The designated Executive Officers shall jointly have final
decision-making authority with respect to such Unresolved Matter except as follows: 
  

	 	(a)	 An Executive Officer of Alvotech shall have final decision-making authority with respect to each Unresolved
Matter pertaining to (i) [***]; (ii) [***], (iii) [***], (iv) all [***] matters relating to items (i) to (iii), and (iv) [***]; and 

  

	 	(b)	 An Executive Officer of Teva shall have final decision-making authority with respect to each Unresolved Matter
pertaining to (i) Commercialization and Marketing of the Products to the extent [***]; and (ii) [***]; 

 provided
that in no event may a Party exercise its final decision-making authority in a manner that that would assign materially additional development activities to (or increase the effort committed by), or materially change the development activities
assigned to, the other Party without such other Party’s written consent, which may not be unreasonably withheld, conditioned or delayed; and in no event may a Party exercise its final decision-making authority in a manner that the other Party
reasonably believes raises material concerns that such second Party could be in violation of Applicable Law; and provided that the Executive Officer concerned shall, when making a decision, observe all relevant provisions of this Agreement and the
Product Supply Agreement including as relate to a Launch-at-Risk which shall be determined in accordance with Section 4.1.4. 

7.2.3 If the Executive Officers are unable to resolve such a dispute or issue within [***] Business Days, any Party shall have
the right to proceed in accordance with the dispute resolution procedures of Section 13.6. 
  

	7.3	 Joint Patent Committee. 

7.3.1 General. Due to the unique sensitivity of intellectual property strategy, coupled with the frequent need to make
strategic decisions quickly, particularly with respect to litigation-related activity, within [***] days of the Effective Date, the Parties will establish a Joint Patent Committee designed to enhance intellectual property-related communication and
decision making relating to the Products and the Territory. The members of the Joint Patent Committee shall act in good faith to facilitate communication among appropriate constituencies within 

  
 29 

 
the Parties and review and guide the planning and execution of intellectual property strategy relating to the Products and the Territory. It is the intent of the Parties that work of the Joint
Patent Committee be conducted in a highly cooperative, collaborative manner with open communication; and that the Parties inform each other of meaningful intellectual property developments, plans and anticipated actions as candidly and as early as
reasonable under the circumstances. 
 7.3.2 Composition and Leadership. The Joint Patent Committee shall be comprised
of up to [***] representatives from Teva and a total of up to [***] representatives of Alvotech who have the requisite experience and seniority to make and communicate recommendations and decisions regarding intellectual property, including
litigation strategy; provided the number of Joint Patent Committee members may be changed by mutual agreement of the Parties. Each Party shall designate a co-chairperson, each of whom may call meetings
at any time upon reasonable notice under the circumstances and specify agenda items, exercising reasonable judgment. Each Party may replace any of its members upon written notice to the other. 

7.3.3 Subject Matter and Communication. It is contemplated that the Joint Patent Committee shall serve as the primary
vehicle through which the Parties coordinate and determine strategy with respect to intellectual property matters, including [***]. 

7.3.4 Administration. The co-chairpersons of the Joint Patent Committee shall
determine the frequency, dates and agenda for its meetings, provided it shall meet at least once per calendar quarter until Launch of all Products and then on an ad hoc basis. Meetings may be conducted in person, by video conference or by
phone and no Party shall be required to attend in person. A reasonable number of non-members, including external intellectual property counsel to the Parties, may be invited to attend meetings as non-voting participants at the invitation of a member, provided all attendees shall be subject to appropriate confidentiality arrangements and the other members are notified in advance of each such
attendee’s anticipated attendance and role. External intellectual property counsel to the Parties, as well as employees, consultants or other advisors, may be invited to and participate in meetings to the extent mutually agreed in advance. Each
Party will bear the expense of its respective Joint Patent Committee members’ participation in Joint Patent Committee meetings. 

7.3.5 Consensus and Consideration of Perspectives. The Joint Patent Committee shall operate by consensus. The
members from each Party shall collectively have one (1) vote, which shall be cast by their respective co-chairman; provided that no vote taken at a meeting shall be valid unless a representative of
each Party participates in the vote and if a Party’s co-chairman is unable to attend any meeting of the Joint Patent Committee, then they shall be entitled to appoint another

  
 30 

 
representative of the Party to attend in their place at such meeting and/or to cast their vote on their behalf. The Joint Patent Committee shall review and discuss the matters before it in
good faith such and the members shall have the right to comment upon and make recommendations to the members of the other Party regarding the other Party’s activities under this Agreement, which recommendations the other Party shall reasonably
consider. 
 7.3.6 Dispute Resolution. 
  

	 	(a)	 In the event that an Unresolved Matter arises in the Joint Patent Committee (other than relating to
Intellectual Property litigation strategy) and the Joint Patent Committee is unable to resolve within [***] Business Days of submission, the matter shall be submitted to Executive Officers for resolution as prescribed in Section 7.2 above, and
failing resolution as prescribed therein the matter shall be subject to the dispute resolution procedures set forth in Section 13.6. Notwithstanding the foregoing, if an Urgent Unresolved Matter (other than relating solely to Intellectual
Property litigation strategy) arises in the Joint Patent Committee, then it shall be submitted promptly to Executive Officers for resolution. If the Executive Officers are unable to achieve consensus on an Urgent Unresolved Matter within [***], the
matter shall be subject to the dispute resolution procedures set forth in Section 13.6. 

  

	 	(b)	 Any Unresolved Matter relating to Intellectual Property litigation strategy [***] that the Joint Patent
Committee is unable to resolve within [***] Business Days of submission shall be submitted to the Joint Committee for resolution in accordance with Section 7.2. Any Urgent Unresolved Matter relating to Intellectual Property litigation strategy
arising in the Joint Patent Committee, then it shall be submitted promptly to the Executive Officers for resolution. If the Executive Officers are unable to achieve consensus on an Urgent Unresolved Matter within [***], then the matter shall be
submitted urgently to a special panel consisting of three (3) experts in patent litigation for resolution. Each Party shall appoint one (1) expert to the special panel, and the two (2) Party-designated experts shall appoint a third
who shall act as chairman of the panel and issue a determination within [***] of impaneling. 

 Provided that, in
each case, (a) and (b), in no event may a Party exercise its final decision-making authority in a manner that that would materially change the rights or obligations of the other Party under this Agreement (including under Article 9) without
such other Party’s written consent; and in no event may a Party exercise its final decision-making authority in a manner that the other Party reasonably believes raises material concerns that such second Party could be in violation of
Applicable Law. 

  
 31 

	7.4	 Participation Cost. Each Party shall bear its own costs associated with its participation in the
Joint Committee, the Joint Patent Committee, and their activities performed under this Agreement, except as otherwise set forth herein; provided, however, in the event either Party is asked to perform activities with respect to the other
Party’s obligations under this Agreement, the Parties will mutually agree to a reasonable reimbursement rate for such activities prior to their initiation. 

SECTION 8 - CONFIDENTIALITY 
  

	8.1	 Non-Disclosure and
Non-Use of Confidential Information. All Confidential Information shall remain the exclusive property of the Disclosing Party during the Term of this Agreement and thereafter. During the Term of this
Agreement and thereafter, all of the Disclosing Party’s Confidential Information shall be maintained in strict confidence by the Receiving Party’s agents and employees, and shall not be used by the Receiving Party for any purpose other
than in connection with the Receiving Party’s performance of its duties under this Agreement. The Receiving Party shall, at its expense and at the Receiving Party’s option, either return or destroy (and certify such destruction to the
Disclosing Party in a written instrument signed by an officer of the Receiving Party) all Confidential Information of the Disclosing Party within [***] days after the expiration or termination of this Agreement, provided, however, that
the Receiving Party may retain one (1) copy of the Confidential Information of the Disclosing Party for archival purposes. 

  

	8.2	 Disclosure Pursuant to Legal Obligation. Notwithstanding the provisions of Section 8.1, the
Receiving Party may disclose Confidential Information belonging to the Disclosing Party as expressly permitted by this Agreement or, upon reasonable prior written disclosure to the Disclosing Party and provided that the Receiving Party considers in
good faith any comments (including suggested redaction) with respect to such disclosure, if and to the extent such disclosure is [***]. Notwithstanding the foregoing, in the event the Receiving Party is required to make a disclosure of the other
Disclosing Party’s Confidential Information pursuant to this Section 8.2, it will, except where impracticable, and to the extent allowed by Applicable Laws, notify the Disclosing Party promptly so that the Disclosing Party may seek a
protective order or other appropriate remedy or, in the Disclosing Party’s sole discretion, waive compliance with the confidentiality provisions of this Agreement. At the Disclosing Party’s expense, the Receiving Party shall cooperate in
all reasonable respects in connection with any reasonable actions to be taken for the foregoing purpose. In any event, the Receiving Party may furnish such Confidential Information as requested or required pursuant to Applicable Law (subject to any
such protective order or other appropriate remedy) without liability hereunder, provided that the Receiving Party furnishes only that portion of the Confidential Information which the Receiving Party is advised by its counsel is legally
required, and the Receiving Party exercises reasonable efforts to obtain reliable assurances that confidential treatment shall be accorded the Disclosing Party’s Confidential Information. Each of the Parties agrees that the foregoing exceptions
are to be narrowly construed. 

  
 32 

	8.3	 Disclosure to Prospective Investors. Notwithstanding any other provision of this Agreement,
either Party may disclose Confidential Information, including the terms of this Agreement, to bona fide current and prospective investors, (sub)licensees, acquirers, assignees, collaborators, and lenders, provided any such recipients
are bound by confidentiality and non-use provisions no less restrictive than those contained in this Article 8 (but of customary duration), any written information is redacted to the extent reasonable.

 SECTION 9 – IP LITIGATION 
  

	9.1	 IP Litigation/Invalidation. 

9.1.1 During the Term, each Party shall bring to the attention of the other Party all information regarding potential
infringement or any claim of infringement or misappropriation of Third Party Intellectual Property Rights in connection with the Development, manufacture, Commercialization, Marketing use, importation, of a Product in or for the Territory. Any such
matters shall be submitted to the Joint Patent Committee for disposition pursuant to Section 7.3, including any such matters which may be subject to the terms of Article 11 as a claim of infringement or misappropriation which is an Alvotech
Liability or a Teva Liability (such matters, “Indemnified IP Matters”). [***]. 
 9.1.2 [***]. 

9.1.3 In any action, suit, administrative proceeding, other proceeding, or
pre-litigation activities within the scope of Sections 9.1.1 and 9.1.2, Teva shall have the right to separate counsel in any such action or proceeding at its cost and expense. In all such circumstances, the
Parties shall cooperate with each other in any such suit, action or proceeding, including but not limited to cooperation and decision making through the process of the Joint Patent Committee, having [***] participate in discussions and meetings with
counsel that lead to drafting and amending of all filings and submissions, and provision of copies of all filings and other submissions before their filing or submission for [***] review and comment, which input will be incorporated absent a
reasonable basis for objection. Notwithstanding the foregoing, [***] shall have the option to assume control (at [***] cost and expense) of any action, suit, proceeding, or pre-litigation activities in the
event that [***] fails to defend or prosecute or to use Commercially Reasonable Efforts to defend or prosecute, provided that any dispute as to whether [***] may assume control of such action, suit, proceeding, or
pre-litigation activities shall be subject to the dispute resolution procedures set forth in Section 7.3.6(b). The Parties will give each other prompt written notice of the commencement of any such suit,
action or proceeding or claim of infringement and will ensure the Joint Patent Committee receives all communications with counsel, the court or claimant relating to any action, suit, administrative proceeding, other proceeding, or pre-litigation activities within the scope of Sections 9.1.1 and 9.1.2. No Party shall compromise, settle or otherwise dispose of any such suit, action, proceeding, or
pre-litigation activity without the prior written consent of the other Party, provided that [***]. 

  
 33 

 9.1.4 Except as may be subject to a Party-specific indemnity obligation set
forth in Article 11, or as provided [***], all post-Effective Date Third Party Claims related to Intellectual Property Rights asserted in respect of a Product in the Territory that are subject to this Article 9 (including any on-going proceedings as of the Effective Date), including attorneys’ fees of lead counsel (“IPR Claims”), shall be the sole responsibility of Alvotech and save as provided in this Article 9
Alvotech shall be responsible for the management of and have decision-making authority with respect to the same. Notwithstanding the foregoing, except as may be subject to a Party-specific indemnity obligation set forth in Article 11, in the event
that any such IPR Claims or settlement thereof results in any damages, payments or other sums being owed to a Third Party in such action or proceeding, such damages, payments or other sums shall be shared between the Parties [***] per cent ([***]%)
Alvotech and [***] per cent ([***]%) Teva after the relevant Party has recovered their respective costs. 
 SECTION 10 –
REPRESENTATIONS, WARRANTIES AND COVENANTS 
  

	10.1	 Alvotech’s Representations and Warranties. 

10.1.1 Alvotech hereby represents and warrants to Teva that as of the Effective Date: 

 

	 	(a)	 It is duly incorporated, validly existing and in good standing under the laws of Iceland, and is legally
qualified to do business in each jurisdiction in which this Agreement is performed and its activities hereunder requires such qualification, except where the failure to have such qualification does not result in a Material Adverse Effect on its
performance of its obligations hereunder. 

  

	 	(b)	 It has the corporate power and authority to enter into this Agreement and perform its obligations hereunder.
The execution, delivery and performance of this Agreement and the performance of its obligations hereunder have been duly authorized and approved by all necessary action, and no other action on its part is necessary to authorize the execution,
delivery and performance of this Agreement, and this Agreement constitutes a legally binding obligation, enforceable against such Party, in accordance with its terms, except insofar as enforceability may be limited by bankruptcy, insolvency,
reorganization, or similar laws affecting the rights of creditors generally. 

  
 34 

	 	(c)	 Neither the execution and delivery of this Agreement by it nor its performance hereunder conflicts with or
results in any violation or breach of, or constitutes (with or without due notice or lapse of time or both) a default under any of the terms or conditions of its certificate/article of incorporation or bylaws, or any note, bond, mortgage, indenture,
license, agreement or other instrument or obligation to which it or any of its Affiliates is a party or by which it or any of its Affiliates or any of their respective properties or assets may be bound or, to its knowledge, violate any statute, law,
rule, regulation, writ, injunction, judgment, order or decree of any court, administrative agency or governmental authority binding on it or any of its Affiliates or any of their respective properties or assets, excluding any such breaches or
defaults that, individually and in the aggregate, would not have a Material Adverse Effect on its business or financial condition or on the transactions contemplated hereby. 

 

	 	(d)	 It has the right, power and authority to grant the rights and licenses to Teva under this Agreement.

  

	 	(e)	 It has not made and will not make any commitments to any Third Parties or Affiliates, either express or
implied, that are materially in conflict with or a material impairment of the rights granted to Teva in this Agreement, and neither it nor any of its Affiliates have entered or will enter, directly or indirectly, into any contract or any other
transaction with any Third Party or Affiliate that conflicts or derogates from its undertakings under this Agreement. 

  

	 	(f)	 Except as disclosed in the Disclosure Schedule set forth in Schedule F, there are no suits, claims, or
proceedings pending, or to its knowledge, threatened, against it or any of its Affiliates which would materially affect its right or ability to perform its obligations under this Agreement. 

 

	 	(g)	 All rights granted to Third Parties by Alvotech as of the Effective Date that, pursuant to
Section 2.2.3(c), would not be subject to Teva’s right of first negotiation described in Section 2.2 are disclosed in the Disclosure Schedule. 

  

	 	(h)	 It has, and will at all times throughout the Term have, the requisite expertise, resources, experience and
skill to perform its obligations hereunder. 

  

	 	(i)	 [***], the Launch of the Products does not, except as disclosed in the Disclosure Schedule, infringe any valid
Intellectual Property Right of any Third Party in the Territory. 

  

	 	(j)	 Except as disclosed in the Disclosure Schedule, [***]. 

 

	 	(k)	 Except as disclosed in the Disclosure Schedule, as of the Effective Date, neither it nor any of its Affiliates
has received any notice or claim to the effect that making, using, Marketing, exporting or importing Products may infringe, violate or misappropriate the patent, copyright or trade secret rights of any Third Party. 

  
 35 

	 	(l)	 To its knowledge, the Development Plan contains all relevant tests, studies, procedures and quality control
provisions required by the FDA for the BLA Approval of the Products. 

  

	 	(m)	 From [***] days prior to the Effective Date in the Territory neither Alvotech nor any of its Affiliates
currently supply any Products in the Territory in violation of its obligations under Section 2.3.1. 

  

	 	(n)	 Alvotech has responded fully to Teva’s requests for information regarding the Product, and Alvotech has
not withheld material information regarding the Product which is responsive to such requests; and any such information was provided to Teva following receipt of Teva’s request and was at the time of reply up to date and in all material respects
accurate. 

  

	 	(o)	 To its knowledge, neither Alvotech nor any of its Affiliates (to the extent its Affiliates are performing
services related to the Product), nor any of its employees or agents performing services related to the Product in connection with this Agreement, has been: 

  

	 	(i)	 convicted of an offense related to any United States federal or state health care program or is subject to a
pending proceeding relating thereto; 

  

	 	(ii)	 debarred under the Federal Food, Drug and Cosmetic Act, or is subject to a pending proceeding relating thereto;
or 

  

	 	(iii)	 excluded or is otherwise ineligible for United States federal or state health care program participation.

 No person convicted, debarred, excluded or ineligible, or subject to a pending proceeding relating
thereto, will be employed by Alvotech or its Affiliates, in any capacity, in connection with any of its obligations under this Agreement. If Alvotech becomes aware that Alvotech or any of its Affiliates performing services related to the Product or
any person employed or contracted by Alvotech or any of its Affiliates in connection with this Agreement has become or is in the process of being convicted, debarred, excluded or otherwise rendered ineligible for any United States federal or state
health care program participation, Alvotech shall immediately so notify Teva in writing. 

  
 36 

	10.2	 Teva’s Representations and Warranties. 

10.2.1 Teva hereby represents and warrants to Alvotech that as of the Effective Date: 

 

	 	(a)	 It is duly incorporated, validly existing and in good standing under the laws of Switzerland, and is legally
qualified to do business in each jurisdiction in which this Agreement is performed and its activities hereunder requires such qualification, except where the failure to have such qualification does not result in a Material Adverse Effect on its
performance of its obligations hereunder. 

  

	 	(b)	 It has the corporate power and authority to enter into this Agreement and perform its obligations hereunder.
The execution, delivery and performance of this Agreement and the performance of its obligations hereunder have been duly authorized and approved by all necessary action, and no other action on its part is necessary to authorize the execution,
delivery and performance of this Agreement, and this Agreement constitutes a legal binding obligation, enforceable against such Party, in accordance with its terms, except insofar as enforceability may be limited by bankruptcy, insolvency,
reorganization, or similar laws affecting the rights of creditors generally. 

  

	 	(c)	 There are no suits, claims, or proceedings pending, or to its knowledge and belief, after due inquiry,
threatened against it or any of its Affiliates which would affect its ability to perform its obligations under this Agreement. 

  

	 	(d)	 It has, and will at all times throughout the Term have, the requisite expertise, resources, experience and
skill to perform its obligations hereunder. 

  

	 	(e)	 It has not made and will not make any commitments to any Third Parties or Affiliates, either express or
implied, that are materially in conflict with or a material impairment of the rights granted to Alvotech in this Agreement, and neither it nor any of its Affiliates have entered or will enter, directly or indirectly, into any contract or any other
transaction with any Third Party or Affiliate that conflicts or derogates from its undertakings under this Agreement. 

  

	 	(f)	 It has responded fully to Alvotech’s reasonable requests for information regarding the relationship that
is the subject of this Agreement, and Teva has not withheld information which is responsive to such requests; and any such information was provided to Alvotech following receipt of their request and, taken as a whole, was at the time of reply up to
date and in all material respects accurate. 

  

	 	(g)	 There are no suits, claims, or proceedings pending, or to its knowledge, threatened, against it or any of its
Affiliates which would materially affect its right or ability to perform its obligations under this Agreement. 

  
 37 

	 	(h)	 Neither the execution and delivery of this Agreement by it Parties nor its performance hereunder conflicts with
or results in any violation or breach of, or constitutes (with or without due notice or lapse of time or both) a default under any of the terms or conditions of its certificate/article of incorporation or bylaws, or any note, bond, mortgage,
indenture, license, agreement or other instrument or obligation to which it or any of its Affiliates is a party or by which it or any of its Affiliates or any of their respective properties or assets may be bound or, to its knowledge, violate any
statute, law, rule, regulation, writ, injunction, judgment, order or decree of any court, administrative agency or governmental authority binding on it or any of its Affiliates or any of their respective properties or assets, excluding any such
breaches or defaults that, individually and in the aggregate, would not have a Material Adverse Effect on its business or financial condition or the transactions contemplated hereby. 

 

	 	(i)	 Neither Teva nor its Affiliates (to the extent its Affiliates are performing services related to the Products),
nor any of their respective employees or agents performing services related to the Products in connection with this Agreement, has been: 

  

	 	(i)	 convicted of an offense related to any United States national, federal or state health care program or is
subject to a pending proceeding relating thereto; 

  

	 	(ii)	 debarred under the Federal Food, Drug and Cosmetic Act or is subject to a pending proceeding relating thereto;
or 

  

	 	(iii)	 excluded or is otherwise ineligible for United States national, federal or state health care program
participation. 

 No person convicted, debarred, excluded or ineligible, or subject to a pending proceeding
relating thereto, will be employed by Teva or its Affiliates, in any capacity, in connection with any of its obligations under this Agreement. If Teva becomes aware that Teva or its Affiliates performing services related to the Product or any person
employed or contracted by Teva or its Affiliates in connection with this Agreement has become or is in the process of being convicted, debarred, excluded or otherwise rendered ineligible for any United States national, federal or state health care
program participation, Teva shall immediately so notify Alvotech in writing. 

  
 38 

	10.3	 Compliance with Anti-Corruption Laws. 

10.3.1 Anti-Corruption Principles and Legislation. The OECD and the OECD Convention exist to combat bribery of foreign
public officials in international business transactions. The OECD Convention requires contracting states to enact legislation relating to combating bribery of foreign public officials in international business transactions. Such legislation has been
passed in the United States as the FCPA. The Anti-Corruption Laws and Principles prohibit the corrupt payment, offer, promise, or authorization of the payment or transfer of anything of value or any benefit, directly or indirectly, to any Government
Official, or to any other person while knowing that all or some portion of the payment, thing of value, or benefit will be offered, given, promised, or passed on to a Government Official. Certain of the Anti-Corruption Laws and Principles also
prohibit commercial bribery (i.e., the payment or transfer of anything of value, any benefit, or any advantage, directly or indirectly, to any private person with the intention to improperly obtain or retain business or any business advantage or to
improperly influence the recipient’s behavior). 
 10.3.2 Knowledge and Compliance. The Parties are committed to
ensuring that their personnel are knowledgeable as to and committed to compliance with the Anti-Corruption Laws. To those ends: 
  

	 	(a)	 Each Party understands that each other Party and/or its Affiliates are subject to the Anti-Corruption Laws and
Principles. All references in this Section 10.3.2 to each Party shall be deemed to include such Party’s Affiliates; 

  

	 	(b)	 Each Party agrees to ensure that all of its Personnel are knowledgeable regarding the purpose and provisions of
the Anti-Corruption Laws and Principles, and also agrees to take appropriate steps to ensure that such Personnel will comply with the letter and spirit of the Anti-Corruption Laws and Principles and will not take any actions which would cause either
Party to violate or contravene the Anti-Corruption Laws and Principles; and 

  

	 	(c)	 Each Party will maintain policies, procedures, and internal controls to ensure that it will be in compliance
with the Anti-Corruption Laws and Principles in connection with its performance of this Agreement. Such policies, procedures, and internal controls will include processes through which employees will obtain approval for expenditures that may be
incurred on behalf of or result in payments to Government Officials, healthcare professionals, or customers in connection with Third Party’s performance of this Agreement (e.g., gift, travel, entertainment, hospitality, conference, meeting,
event, consulting, and research expenditures). 

 10.3.3 Status of Employees, Family Relationships.
Each Party represents that none of its Personnel are Government Officials. Each Party represents that it has fully disclosed to the other Party any existing Close Family Member relationships between any of its Personnel and any Government Official,
and a Party agrees to notify the other Party of any such Close Family Member relationship that may arise during the Term. 

  
 39 

 10.3.4 No Action Contrary to Anti-Corruption Laws and Principles.
Each Party represents and covenants further that nothing of value received under this Agreement has been or will be accepted or used by it for any purpose that would violate or be contrary to the Anti-Corruption Laws and Principles, nor has it or
will it take any action in connection with this Agreement or the performance of any activities pursuant to it that would violate or be contrary to Anti-Corruption Laws and Principles. 

10.3.5 Method of Payments. Each Party agrees that all payments made to a Party in connection with this Agreement shall
be made after receipt of an invoice detailing the products or services provided during the period. All payments under this Agreement shall be made by bank transfer for the benefit of, or to the account of, the Party in the country where goods and/or
services are delivered/provided or the country of residence/principle place of business of such Party. 
 10.3.6 No
Unlawful Payments. Each Party represents and covenants further that, in connection with this Agreement or the performance of any activities pursuant to it, unless permitted under the Anti-Corruption Laws and Principles, the Party has not paid,
promised to pay, authorized a payment, given, permitted to give, or authorized the giving, and will not pay, promise to pay, authorize a payment, give, promise to give, or authorize the giving of anything of value or any benefit to any Government
Official for purposes of (i) influencing any act or decision of such Government Official in his official capacity, (ii) inducing such Government Official to do or omit to do any act in violation of the lawful duty of such official;
(iii) securing any improper advantage; or (iv) inducing such Government Official to use his influence to affect or influence any act or decision of the Government Official with respect to any activities undertaken relating to this
Agreement. 
 10.3.7 Accurate Books and Records. Each Party will not make or permit any
off-the-books accounts, inadequately identified transactions, recording of non-existent expenditures, entry of liabilities with
incorrect identification of their object, or the use of false documents in connection with performing on this Agreement. Each Party will keep books, accounts, and records that, in reasonable detail, accurately and fairly reflect its transactions and
dispositions of funds paid under this Agreement. 
 10.3.8 Rights of Audit. Without derogating from any other rights
which a Party has to audit the records of another Party under this Agreement or any other agreement between the Parties, for the Term and a period of [***] years thereafter, at the request and expense of a Party (not to be made more than once in any
[***] month period), the other Party will permit a reputable firm of independent accountants mutually acceptable to the Parties (which accountants shall not have been hired or paid on a contingency basis and which accountants shall have experience
auditing biopharmaceutical companies), to have access at such other Party’s offices in the United States or anywhere in the world where the relevant 

  
 40 

 
information and data are retained, upon reasonable written notice and during ordinary working hours to such records as may be necessary to audit all books, records, invoices, and relevant
documentation of the other related to this Agreement in order to verify compliance with the terms of this Section 10.3 and the requirements of the Anti-Corruption Laws and Principles. Each Party will cooperate fully in any audit or
investigation conducted in relation to compliance with this Agreement or the Anti-Corruption Laws and Principles. 
 10.3.9
Obligation to Update/Report Changes. Each Party agrees that all of the representations contained herein shall remain true and accurate throughout the duration of this Agreement. Each Party must inform the other Party promptly if it becomes
aware of any potential breach of this Section 10.3 or the Anti-Corruption Laws and Principles in connection with this Agreement or the performance of any activities pursuant to it or any other change that would render any of the representations
herein untrue or inaccurate. Failure to notify the other Party under this section shall constitute a material breach of this Agreement entitling such Party to terminate this Agreement under Section 12.2. 

10.3.10 Annual Certification. In its sole discretion, a Party may require that the other Party complete an annual
certification or provide some other form of reasonable assurance of compliance with this Section 10.3. 
  

	10.4	 No Other Warranties. Except for the representations and warranties expressly set forth in this
Agreement, no Party makes any representations or warranties of any kind, either express or implied. 

 SECTION 11
– INDEMNIFICATION, LIMITATION OF LIABILITY AND INSURANCE 
  

	11.1	 Indemnification by Alvotech. 

11.1.1 Alvotech shall defend, indemnify and hold Teva, its Affiliates and their respective officers, directors and employees
harmless from and against any Alvotech Liabilities except to the extent that any Third Party Claim constitutes a Teva Liability. The foregoing obligations shall not apply to the extent that such Alvotech Liabilities result from any gross negligence
or willful misconduct of Teva or its Affiliates. 
 11.1.2 Teva shall promptly notify Alvotech of any liability in respect of
which Teva intends to claim such indemnification, and Alvotech shall assume and have exclusive control over the defense thereof (other than Indemnified IP Matters which shall remain subject to the decision-making authority of the Joint Patent
Committee) with counsel selected by Alvotech; provided, however, that Teva shall have the right to fully participate in any such action or proceeding and to retain its 

  
 41 

 
own counsel, at its own expense. Alvotech may not settle a claim without the prior written consent of Teva whose consent may not be unreasonably withheld or delayed. So long as Alvotech are
actively defending a claim in good faith, Teva may not settle any such claim without the prior written consent of Alvotech. The failure to deliver notice to Alvotech within a reasonable time after the commencement of such action shall relieve
Alvotech of its indemnification obligations hereunder only to the extent such failure is materially prejudicial to Alvotech’s ability to defend such action. 
  

	11.2	 Indemnification by Teva. 

11.2.1 Teva shall defend, indemnify and hold Alvotech, its Affiliates and their respective officers, directors and employees
harmless from and against any Teva Liabilities that arise from any claim, lawsuit or other action by a Third Party except to the extent that any Third Party Claim constitutes an Alvotech Liability. The foregoing obligations shall not apply to the
extent that such Teva Liabilities result from the gross negligence or willful misconduct of Alvotech. 
 11.2.2 Alvotech
shall promptly notify Teva of any liability in respect of which Alvotech intends to claim such indemnification, and Teva shall assume and have exclusive control over the defense thereof (other than Indemnified IP Matters which shall remain subject
to the decision-making authority of the Joint Patent Committee) with counsel selected by Teva; provided, however, that Alvotech shall have the right to fully participate in any such action or proceeding and to retain its own counsel, at its
own expense. Teva may not settle a claim without the prior written consent of Alvotech whose consent may not be unreasonably withheld or delayed. So long as Teva is actively defending a claim in good faith, Alvotech may not settle any such claim
without the prior written consent of Teva. The failure to deliver notice to Teva within a reasonable time after the commencement of such action shall relieve Teva of its indemnification obligations hereunder only to the extent such failure is
materially prejudicial to Teva’s ability to defend such action. 
  

	11.3	 Limitation of Liability. 

11.3.1 SUBJECT TO CLAUSE 11.3.2 AND EXCEPT AS ARISING DUE TO THE GROSS NEGLIGENCE OR WILFUL MISCONDUCT OF SUCH PARTY OR ITS
AFFILIATES NEITHER PARTY SHALL BE LIABLE WHETHER IN TORT (INCLUDING FOR NEGLIGENCE OR BREACH OF STATUTORY DUTY), TO THE OTHER PARTY FOR ANY SPECIAL, INCIDENTAL, INDIRECT, EXEMPLARY, CONTINGENT, CONSEQUENTIAL OR PUNITIVE DAMAGES INCLUDING, BUT NOT
LIMITED TO, LOSS OF PROFIT, LOSS OF SAVINGS, LOSS OF BUSINESS OR LOSS OF CONTRACTS, WHETHER ARISING FROM NEGLIGENCE, BREACH OF CONTRACT OR IN ANY OTHER WAY. 

  
 42 

 11.3.2 The limitations set forth in Section 11.3.1 shall not apply with
respect to the liability of either Party for: 
  

	 	(a)	 death or personal injury caused by that Party’s negligence or that of their respective subcontractors,
officers, employees or agents; 

  

	 	(b)	 fraud or fraudulent misrepresentation; 

 

	 	(c)	 any matter for which it would be unlawful for the Parties to exclude liability; or 

 

	 	(d)	 Third Party Claims which are subject to Indemnification under Sections 11.1 or 11.2. 

 

	11.4	 Insurance. 

11.4.1 Alvotech will obtain and maintain an active program of insurance including the following minimum required coverages:

  

	 	(a)	 product liability, with limits of not less than [***] U.S. Dollars ($[***]) per occurrence and [***] U.S.
Dollars ($[***]) in the aggregate by no later than [***] months before the first expected Launch Date of a Product; 

  

	 	(b)	 clinical trial/BE study insurance, with limits of not less than [***] U.S. Dollars ($[***]) per occurrence and
[***] U.S. Dollars ($[***]) in the aggregate as of the Effective Date; 

  

	 	(c)	 commercial general liability insurance, including contractual liability coverage, with minimum limits of not
less than [***] U.S. Dollars ($[***]) per occurrence and [***] U.S. Dollars ($[***]) in the annual aggregate: and 

  

	 	(d)	 all other insurance, in types and amounts that satisfy all Applicable Law, including but not limited to workers
compensation. 

 Alvotech shall name Teva as an “additional insured” with respect to the minimum
required products liability insurance, and provide Teva with a certificate of insurance, as evidence of these required coverages, promptly upon Teva’s request. It is agreed that such “additional insured” status shall be limited to
claims for which Teva is entitled to indemnification pursuant to the terms of this Agreement. Alvotech shall have the right to fulfill its insurance obligations hereunder through the purchase of insurance, through self-insurance (including direct
risk retention), or through a combination of both approaches. 
 11.4.2 Teva will obtain and maintain an active program of
insurance including the following the minimum required coverages: 

  
 43 

	 	(a)	 product liability, with limits of not less than [***] U.S. Dollars ($[***]) per occurrence and [***] U.S.
Dollars ($[***]) in the aggregate, by no later than [***] months before the first Launch Date of a Product; 

  

	 	(b)	 commercial general liability insurance, including contractual liability coverage, with minimum limits of not
less than [***] U.S. Dollars ($[***]) per occurrence and in the annual aggregate; and 

  

	 	(c)	 all other insurance, in types and amounts that satisfy all Applicable Law, including but not limited to workers
compensation. 

 Teva shall include Alvotech as “additional insureds,” with respect to the
minimum required product liability insurance, and provide Alvotech with a certificate of insurance, as evidence of these required coverages, promptly upon request of Alvotech. It is agreed that such “additional insured” status shall be
limited to claims for which Alvotech are entitled to indemnification pursuant to the terms of this Agreement. Teva shall have the right to fulfill its insurance obligations hereunder through the purchase of insurance, through self-insurance
(including direct risk retention), or through a combination of both approaches. 
 SECTION 12 - TERM AND TERMINATION 

 

	12.1	 Term. This Agreement shall commence on the Effective Date and shall continue in force, on a Product-by-Product basis, for the Initial Term. Upon expiry of the Initial Term, this Agreement shall automatically renew for additional terms of one (1) year each (each such one (1) year additional term, a
“Renewal Term”), unless each Party provides written notice of non-renewal to the other Party no later than one (1) year prior to the end of the Initial Term or then current Renewal
Term. 

  

	12.2	 Termination for Breach. 

12.2.1 Without prejudice to the rights and remedies of the Parties under this Agreement, this Agreement may be terminated by
either Party, either on a Product-by-Product basis, or in its entirety, by written notice provided to the Breaching Party in the following manner: (i) the
terminating Party shall send written notice of the material breach or material default to the Breaching Party specifying the claimed particulars of such breach in reasonable detail and its intention to terminate this Agreement in whole (which must
be material in its significance to the innocent Party and have a seriously detrimental effect on the overall benefit which the innocent Party would otherwise derive from this Agreement) or in part with respect to specific Product(s), and
(ii) the termination shall become effective sixty (60) days after written notice thereof was provided to the Breaching Party, unless and if such material breach or default could be cured, and the Breaching Party has cured any such material
breach or default prior to the expiration of the sixty (60) day period. Notwithstanding the foregoing, if the existence of a breach or default (or cure thereof) is the subject of a good faith dispute by the Parties, the cure period referred to
in clause (ii) shall not begin to run until such dispute is resolved. 

  
 44 

 12.2.2 Each Party shall have the right to suspend or terminate this
Agreement and any payments hereunder, effective immediately by written notice to the other Party, if the other Party or any of its Personnel have in any material respect violated or acted contrary to any provision of Section 10.3 of this
Agreement or the Anti-Corruption Laws and Principles, in either case solely in connection with this Agreement or the performance of any activities pursuant to it. 
  

	12.3	 Termination for Insolvency. Either Party may terminate this Agreement effective immediately by
written notice to the other Party if the other Party: 

  

	 	(a)	 becomes insolvent, or has filed a request to be declared insolvent, or has been granted moratorium on payment;

  

	 	(b)	 makes an assignment for the benefit of creditors; 

 

	 	(c)	 ceases to do business; 

 

	 	(d)	 commences any dissolution, liquidation or winding up; 

 

	 	(e)	 has a receiver, trustee administrator or examiner or liquidator appointed over all or a substantial part of its
assets, or 

  

	 	(f)	 any event occurs, or proceeding is taken, with respect to the Party in any jurisdiction in which it has assets
and to which it is subject, that has an effect equivalent to any of the events mentioned in (a) to (e) above. 

  

	12.4	 Termination Due to Lack of Commercial Viability. Teva shall have the right to terminate this
Agreement on a Product-by-Product basis (and not in its entirety) on written notice to Alvotech, in the event of a Lack of Commercial Viability with respect to such Product, provided that (a) such
effective date of termination shall not occur during the Blackout Period for the relevant Product, (b) Teva has paid Alvotech all License Fees and Milestone Payments properly due and payable at the time of termination in respect of such
Product, and (c) Teva is not in material breach or material default of its obligations under this Agreement in respect of such Product. In the event Teva exercises its right to terminate under this Section 12.4, such effective date
of termination with respect to the applicable Product shall be [***]. 

  
 45 

	12.5	 Termination for Material Safety Issue. If either Party reasonably believes that there is a
Material Safety Issue in relation to a Product it shall promptly notify the other Party in writing of such determination. The Party receiving such notice may propose actions as applicable to address the Material Safety Issue identified by the other
Party and, if the notifying Party agrees, shall act to implement immediately such actions, provided, that (a) the notifying Party may suspend, or require the suspension of, any activities under this Agreement impacted by the relevant Material
Safety Issue with respect to such Product upon written notice until such mutually agreed actions are implemented, and (b) if the FDA determines that there is a Material Safety Issue and it is not resolvable within a commercially reasonable
timeframe, its decision shall be binding on the Parties and either Party may terminate this Agreement with respect to such Product. 

  

	12.6	 Termination of Product Supply Agreement. This Agreement will automatically terminate as a whole
upon termination of the Product Supply Agreement in whole. In addition, in the event of any termination of the Product Supply Agreement in part with respect to any Product, then this Agreement will automatically terminate in part with respect to
such Product effective upon the effective termination of such Product under the Product Supply Agreement. 

  

	12.7	 Effects of Expiration or Termination. 

12.7.1 General. 
  

	 	(a)	 Subject to the provisions of Sections 12.7.2 and 12.7.3, upon termination or expiration of this Agreement as
set forth under this Article 12 in whole, or in part with respect to a terminated Product in accordance with Sections 12.2 to Section 12.6 all rights and obligations of the Parties will cease to exist and all rights and licenses granted to Teva
under this Agreement, or with respect to such Product, as applicable, shall terminate provided that such termination or expiration shall not relieve either Party from any obligations or liabilities previously accrued to the other Party of which is
attributable to a period prior to such expiration or termination and any and all damages or remedies (whether in law or in equity) arising from any breach hereunder. Notwithstanding anything to the contrary in this Agreement or any other agreement
between the Parties, all rights and obligations of the Parties set forth herein that expressly or by their nature survive expiration or termination of this Agreement (including without limitation any payment obligations accrued prior to termination
of this Agreement, Section 6.5 (Records and Audit), Section 7.2 (Joint Committee and Joint Patent Committee Dispute Resoluton), 7.3.6 (Dispute Resolution), SECTION 8 (Confidentiality), SECTION 11 (Indemnification, Limitation of Liability
and Insurance), Section 12.7 (Effects of Expiration or Termination) and SECTION 13 (Miscellaneous Provisions)) shall continue in full force and effect subsequent to and notwithstanding the expiration or termination of this Agreement until they
are satisfied or by their nature expired and shall bind the Parties and their legal representatives, successors, and permitted assigns. 

  
 46 

	 	(b)	 Upon termination or expiration of this Agreement as set forth under this Article 12 in whole, or in part with
respect to a terminated Product in accordance with Sections 12.2 to Section 12.6: 

 (i) each of the
Parties shall, except as prohibited by Applicable Law or regulation, upon written request of the other Party, return to the other Party or, at the other Party’s option, destroy all relevant records and materials in its possession or control
containing or comprising the Confidential Information of the other Party (and, for the avoidance of doubt, if termination is in part with respect to a particular Product, then with respect to such Product), within [***] days of the termination or
expiration of this Agreement, save for the retention of one (1) copy, which may include an electronic copy, of the Confidential Information by the Receiving Party as a record of the Receiving Party’s ongoing confidentiality obligations
under this Agreement. In the case of destruction, the Receiving Party shall also provide an affidavit signed by an officer of such Party, certifying as to such destruction. For the avoidance of doubt where this Agreement is terminated for a Product
on a Product-by-Product basis only, the Parties shall be entitled to retain, subject to the terms and conditions of this Agreement, copies of the other Party’s
Confidential Information which does not solely relate to the terminated Product; and 
 (ii) Teva shall assign over all
right, title, and interest in and to any Product trademarks for any terminated Product(s), promptly transition sole responsibility for the prosecution and maintenance of the Product trademarks for the terminated Product to Alvotech and promptly
transfer ownership of all copyrights and domain names exclusively related to the terminated Product(s) to Alvotech (excluding any such trademarks that include, in whole or in part, any corporate name or logo of Teva or its Affiliates or
sublicensees). 
 12.7.2 Unfilled Purchase Orders and Inventory. 

 

	 	(a)	 If this Agreement is terminated by Teva in whole, or in part with respect to a terminated Product in accordance
with Sections 12.2, for any breach by Alvotech, then upon termination of this Agreement and at Teva’s request, Alvotech will be required to fulfill any Purchase Orders placed by Teva with respect to any terminated Product(s), but not yet
supplied by Alvotech on or before the date of termination, and Teva will be entitled, at its discretion, to (i) during the Sell-Off Period to Market all such Product(s) and all Product(s) previously
purchased by Teva on an exclusive basis for the first [***] months of the Sell-Off Period, provided that Teva will be required to make the payments required (x) under this Agreement and
(y) under the Product Supply Agreement for all terminated Product(s) delivered by Alvotech to Teva pursuant to Purchase Orders placed by Teva, as applicable, and (ii) require Alvotech to (1) refund to Teva the Estimated Net Sales
Advance for all unsold terminated Product(s) at the conclusion of the Sell-Off Period (notwithstanding 

  
 47 

	 	
any remaining shelf life or whether such Products are in saleable condition) or earlier, following the termination date, on such date that Teva undertakes to Alvotech not to make any sales of the
terminated Product(s) in the Sell-Off Period (and does not make any sales), and (2) purchase at the applicable Product Cost (as defined in the Product Supply Agreement) of such terminated Product(s) as
were ordered by or on behalf of Teva prior to termination, without any markup, any and all unsold quantities of such Product(s) (which are in saleable condition notwithstanding any remaining shelf life for such Products) at the time of such
termination or at the conclusion of the Sell-Off Period. 

  

	 	(b)	 If this Agreement is terminated by either Party in whole, or in part with respect to a terminated Product in
accordance with Section 12.6 for any reason attributable to the fault of Alvotech under the Product Supply Agreement, (i) during the Sell-Off Period, Teva will be entitled (unless prohibited by
Applicable Law), at its discretion, to continue to Market all inventory of such terminated Product purchased by Teva as of the effective date of such termination, and (ii) at Teva’s request, Alvotech will be required to (1) refund to
Teva the Estimated Net Sales Advance for all unsold terminated Products at the conclusion of the Sell-Off Period (notwithstanding any remaining shelf life or whether such Products are in saleable condition),
or earlier, following the termination date, on such date that Teva undertakes to Alvotech not to make any sales in the Sell-Off Period (and does not make any sales), and (2) purchase at the applicable
Product Cost (as defined in the Product Supply Agreement) of such terminated Product(s) as were ordered by or on behalf of Teva prior to termination, any and all unsold quantities of such Product(s) (which are in saleable condition notwithstanding
any remaining shelf life for such Products) at the time of such termination or at the end of the Sell-Off Period, as applicable. 

 

	 	(c)	 If this Agreement is terminated by Alvotech in whole, or in part with respect to a terminated Product in
accordance with Section 12.2, for any breach by Teva or Section 12.6 (for any reason not covered by Section 12.7.2(b) or otherwise not attributable to the fault of Alvotech under the Product Supply Agreement) or by Teva pursuant to
Section 12.4, then (1) (x) if such termination is by Alvotech under Section 12.2, for any breach by Teva or pursuant to Section 12.6 (for any reason attributable to the fault of Teva), Alvotech shall refund to Teva the Estimated Net
Sales Advance for all unsold terminated Product(s) at the time of such termination (which have at least [***] months of shelf life remaining and are in saleable condition), and (y) in all other cases under this Section 12.7.2(c), Alvotech
shall refund to Teva the Estimated Net Sales Advance for all unsold terminated Product(s) at the time of such termination (notwithstanding any remaining shelf life or whether such Products are in saleable condition), and (2) Alvotech may at its
discretion, require Teva to sell to Alvotech all terminated Product(s) delivered to Teva at the applicable Product Cost of such Product(s) as were ordered by or on behalf of Teva, 

  
 48 

	 	
without any markup, any and all unsold quantities of Product(s) (which are in saleable condition notwithstanding any remaining shelf life for such Products) at the time of such termination. In
the event Alvotech elects not to purchase the then remaining inventory of Product under the foregoing clause (2), then Teva will be entitled, at its discretion, to continue to Market all such inventory of such terminated Product purchased by Teva as
of the effective date of such termination for a period of [***] months following Alvotech’s election to not purchase such inventory from Teva. 

  

	 	(d)	 If this Agreement is terminated by [***], then Teva will be entitled during the
Sell-Off Period, at its discretion, to continue to Market all inventory of such terminated Product purchased by Teva as of the effective date of such termination, (2) Alvotech shall refund to Teva the
Estimated Net Sales Advance for all unsold terminated Product(s) at the conclusion of the Sell-Off Period, if applicable (notwithstanding any remaining shelf life or whether such Products are in saleable
condition), or earlier, following the termination date, on such date that Teva undertakes to Alvotech not to make any sales in the Sell-Off Period (and does not make any sales), and (3) (x) if Alvotech
terminates pursuant to Section 12.3, then Teva shall, either, at Alvotech’s election and cost, transfer to Alvotech, or destroy, all such terminated Product(s) as were ordered by or on behalf of Teva, and any and all unsold quantities of
such Products as of such termination, and (y) if either Party terminates pursuant to Section 12.5, then Teva shall, either, as mutually agreed and with the Parties sharing the cost, transfer to Alvotech, or destroy, all such terminated
Product(s) as were ordered by or on behalf of Teva, and any and all unsold quantities of such Products as of such termination. 

  

	 	(e)	 During each applicable Sell-Off Period, and during such [***]-month
period during which Teva continues Marketing Product under Section 12.7.2(c), Teva shall provide monthly reports to Alvotech on the level of inventory of the applicable Products it has on hand and then a final, [***]-month advance notice
setting forth the expected date of full depletion of the remaining inventory. 

 12.7.3 Transition.

  

	 	(a)	 Subject to Sections 12.7.3(b) and 12.7.3(c), if this Agreement is terminated in whole, or in part with respect
to a specific Product (“Reversion Product”), (i) Teva shall provide such assistance as may be reasonably requested by Alvotech or its designee in transitioning customer support, Marketing, promotional and other activities and
responsibilities for the applicable Reversion Product in the Territory, as set forth hereunder, to Alvotech or its designee, (ii) such transition shall occur as quickly as practicable after the effective date of such termination, and
(iii) Alvotech shall retain the right to use any training materials and Ad/Promo Materials that it authored with respect to the Reversion Product; provided, that in no event shall Alvotech use any name or identifying logo of Teva, its
Affiliates or sublicensees with respect to such materials. 

  
 49 

	 	(b)	 If this Agreement is terminated in whole, or in part with respect to a Reversion Product by reason of
Alvotech’s breach, then Teva shall only be obligated to provide, at Alvotech’s expense, such assistance as may be reasonably requested by Alvotech or its designee in transitioning customer support, promotional and other activities and
responsibilities for the terminated Product(s) in the materials and Ad/Promo Materials that it authored with respect to such Reversion Product. 

  

	 	(c)	 If this Agreement is terminated in whole, or in part with respect to a Reversion Product, for any reason other
than by [***], then the assistance provided under Section 12.7.3(a) shall be at Alvotech’s expense. If this Agreement is terminated in whole, or in part with respect to a Reversion Product, by [***], then the assistance provided under
Section 12.7.3(a) shall be at Teva’s expense. 

 12.7.4 Termination for Lack of Commercial
Viability. 
  

	 	(a)	 If this Agreement is terminated in whole, or in part with respect to a Reversion Product [***], then Teva will
be required to make the payments required under this Agreement, as applicable, for all terminated Products delivered by Alvotech to Teva pursuant to Purchase Orders placed by Teva prior to termination. For purposes of clarity, (i) the Sell-Off Period shall not apply in the event this Agreement is terminated by Teva pursuant to Section 12.4 and (ii) Alvotech may void any Purchase Orders which remain outstanding at the effective date of
termination pursuant to Teva’s Section 12.4 notice provided to Alvotech with respect to Products under such Purchase Orders and from the date of such termination notice Teva will have no further right or obligation to place additional
Purchase Orders. 

  

	 	(b)	 In the event Teva terminates this Agreement pursuant to Section 12.4, Teva, as its sole remedy, would have
the rights with respect to such terminated Product as are set out in this Section 12.7.4 and 12.7.5, provided, however, that the foregoing shall not relieve Alvotech from any and all obligations and liabilities accrued to Teva as of such
termination with respect to such Product and all damages or remedies (whether in law or in equity) arising from any breach by Alvotech under this Agreement with respect to such Product. 

  
 50 

 12.7.5 Alvotech Royalty Obligation. 

 

	 	(a)	 In consideration of the reversion of each Reversion Product and related reversion, rights granted or
transferred by Teva to Alvotech under Sections 12.7.1(b)(ii) and above, (i) subject to Teva not being in arrears in relation to any License Fee or Milestone Payments in respect of such Products and (ii) subject to Alvotech (and to the
extent that Alvotech is) achieving a consolidated EBIT Margin in excess of [***] percent ([***])%, Alvotech shall pay Teva a royalty of [***] percent ([***]%) on annual Net Sales of each such Reversion Product, subject to a maximum royalty payment
equal to [***] U.S. Dollars ($[***]) for each such Reversion Product, as allocation of the milestone amount paid by Teva with respect to such Reversion Product under Section 6.1.1. Solely for purposes of this Section 12.7.5, the definition
of Net Sales will apply with respect to sales of Products by Alvotech and its Affiliates and sublicensees, mutatis mutandis, unless otherwise mutually agreed by the Parties. 

SECTION 13 - MISCELLANEOUS PROVISIONS 
  

	13.1	 Independent Status of the Parties. Alvotech and Teva are independent entities each acting in its
own name of for its own account. Without explicit prior written authorization, no Party shall have the authority to bind, commit or incur any liability on behalf of the other Party or to otherwise act in any way as an agency, representative or
partner of the other Party. 

  

	13.2	 Assignment and Change of Control. 

13.2.1 This Agreement shall not be assigned or otherwise transferred by either Party without the prior written consent of the
other Party, such consent not to be unreasonably withheld or delayed, provided, however, that each Party may assign this Agreement or otherwise delegate its rights or obligations hereunder, in whole or in part to any of its Affiliates (but
only for so long as such person is and remains an Affiliate of such Party) or, subject to the provisions of Sections 13.2.2 through 13.2.5, to a successor to the portion of its business related to this Agreement (whether by merger, a sale or
transfer of all or substantially all of its assets relating to this Agreement or any of the Products, a sale of its capital stock, or otherwise), including, in the case of Teva, the transfer to an Affiliate of the entire sales and marketing
organization used to Commercialize and Market any or all of the Products (but only for so long as such person is and remains an Affiliate of such Party). 

13.2.2 Until the First Commercial Sale of all Products, this Agreement shall not be assigned or otherwise transferred by
Alvotech, nor shall Alvotech undergo a Change of Control, without the prior written consent of Teva. 
 13.2.3 Following the
First Commercial Sale of all Products, Alvotech may assign or transfer this Agreement, and may undergo a Change of Control without the consent of Teva; provided, that Alvotech shall provide notice to Teva not less than [***] days prior to the
proposed assignment or Change of Control. 

  
 51 

 13.2.4 Upon the assignment of this Agreement or a Change of Control of one
or more of Alvotech, the assignee or successor shall assume all obligations of Alvotech under this Agreement and confirm such assumption, in writing, within [***] days of such assignment. 

13.2.5 Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties hereto and their
respective permitted successors and assigns. Any assignment in violation of the foregoing shall be null and void ab initio. 
  

	13.3	 Force Majeure. The performance of each Party under this Agreement may be suspended to the extent
and for the period of time that such Party is prevented or delayed from fulfilling its obligations due to a Force Majeure Event; provided, however, that the non-performing Party uses Commercially Reasonable Efforts to avoid or remove such
causes of non-performance and continues performance hereunder with reasonable dispatch as soon as such causes are removed. After [***] consecutive calendar days of suspension on the part of one Party, the
other Party may, at its sole discretion, terminate this Agreement without liability arising from such termination except as expressly provided in this Agreement. 

 

	13.4	 Severability. To the extent any clause, term or provision of this Agreement shall be
judged to be invalid or unenforceable for any reason whatsoever, such invalidity or unenforceability shall not affect the validity or enforceability of the balance of such clause, term or provision or any other clause, term or provision hereof. The
remaining provisions of this Agreement will remain binding and enforceable, and shall be interpreted so as best to reasonably effect the intent of the Parties. The Parties further agree that any such invalid or unenforceable provisions will be
deemed replaced with valid and enforceable provisions that achieve, to the extent possible, the business purposes and intent of such invalid and unenforceable provisions. 

 

	13.5	 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of New York, without regard to its conflicts of law principles, including all matters of construction, validity, performance and enforcement. To the extent that it may otherwise be applicable, the Parties hereby expressly agree to exclude
from the operation of this Agreement, the United Nations Convention on Contracts for the International Sale of Goods, concluded at Vienna, on April 11, 1980, as amended and as may be amended further from time to time. 

 

	13.6	 Dispute Resolution. 

13.6.1 In the event of any Dispute that: 
  

	 	(a)	 if subject to the dispute resolution procedures set forth in Section 7.2 (Joint Committee), has not been
resolved in accordance therewith; or 

  
 52 

	 	(b)	 if not subject to the dispute resolution procedures set forth in Section 7.2 (Joint Committee) by virtue
of Section 7.2 as a development, manufacturing, Commercialization or Marketing matter, and the aggrieved Party has notified the other Party in writing in a reasonably detailed manner and allowed at least [***] days to elapse thereafter without
resolution, the Dispute shall be determined in accordance with the laws of the State of New York and the United States of America through arbitration in New York, New York under the auspices of the ICC pursuant to the ICC Rules. Any arbitration and
all related proceedings shall be conducted in English. The number of arbitrators presiding over any arbitration shall be three (3). Each Party shall appoint one (1) arbitrator, and the two (2) arbitrators so appointed shall appoint a third
arbitrator who shall act as chairman of the tribunal. All arbitrators shall be recognized experts in the subject matter of the arbitration. If the arbitrators selected by the Parties are unable or fail to agree upon the third arbitrator, the third
arbitrator shall be selected by the ICC. Except as may be required by Applicable Law or to enforce an award in court, neither any of the Parties nor the arbitrators may disclose the existence, content or results of any arbitration hereunder without
the prior written consent of the Parties. Notwithstanding the foregoing, in addition to any other rights under this Agreement and notwithstanding the arbitration agreement contained in this Section 13.6, any Party may seek from any state or
federal court of competent jurisdiction any preliminary or interim relief that is necessary to protect the rights, property or other interests of that Party. 

13.6.2 The arbitration award shall be final and binding on the Parties. Judgment upon the award may be entered by any court
having jurisdiction thereof. 
  

	13.7	 Relationship of Parties. 

 

	 	(a)	 The Parties hereto are acting and performing as independent contractors, and nothing in this Agreement creates
the relationship of partnership, joint venture, sales agency or principal and agent. Neither Party is the agent of the other, and neither Party may hold itself out as such to any other person. All financial obligations associated with each
Party’s business shall be the sole responsibility of such Party. 

  

	 	(b)	 All obligations imposed on one or both of Alvotech under this Agreement are joint and several between Alvotech.

  

	13.8	 Communications. 

13.8.1 Neither Party (nor any of their Affiliates) shall issue any press release or make any public announcement with respect
to the fact or terms of this Agreement or the transactions contemplated hereby without prior consultation with and written authorization from, in the case of Teva, Alvotech and, in the case of either Alvotech, Teva. Notwithstanding the foregoing,
the Parties shall agree upon and disseminate an Initial Press Release. 

  
 53 

 13.8.2 Nothing in this Section 13.8 shall limit, restrict or otherwise
subject to review or approval by Alvotech, Teva’s execution of its Commercialization efforts, including in any publicity, advertising or announcements or other promotional materials for Commercialization or Marketing. 

13.8.3 Each Party acknowledges and agrees that the other Party may determine that it is required to submit this Agreement to
the [***], and if a Party does so determine, such Party agrees to consult with the other Party with respect to the preparation and submission of, a confidential treatment request for such submission. If a Party is required by Applicable Law to
make a disclosure of the terms of this Agreement in a filing with or other submission to [***], and (a) such Party has provided copies of the disclosure to the other Party as far in advance of such filing or other disclosure as is reasonably
practicable under the circumstances, (b) such Party has promptly notified the other Party in writing of such requirement and any respective timing constraints, and (c) such Party has afforded a reasonable time under the circumstances from
the date of notice by such Party of the anticipated disclosure to comment upon, request confidential treatment or approve such disclosure, then such Party will have the right to make such public disclosure at the time and in the manner reasonably
determined by its counsel to be required by Applicable Law. Notwithstanding anything to the contrary herein, it is hereby understood and agreed that if a Party seeking to make a disclosure to the SEC, The Stock Exchange of Hong Kong or FSS or
other governmental authority regulating securities as set forth in this Section 13.8.3, and it has received comments within the respective time periods or constraints specified herein or within the respective notice, the Party seeking to make
such disclosure or its counsel, as the case may be, will in good faith (i) consider incorporating such comments and (ii) use reasonable efforts to incorporate such comments, limit disclosure or obtain confidential treatment to the extent
reasonably requested by the other Party.
 13.8.4 Except as required by Applicable Law or court order, any publication or
presentation concerning the Products or activities conducted under this Agreement desired by a Party must be approved in advance by the Joint Committee, but shall be subject in all cases to Teva’s consent, not to be unreasonably withheld,
conditioned or delayed. In all cases, a Party making a publication or presentation shall take reasonable steps to protect the Confidential Information of the other Party and ensure that all such publications and presentations are consistent with
good scientific practice and accurately reflect work done and the contributions of the Parties. 

  
 54 

	13.9	 No Implied Licenses. Each of the Parties hereby acknowledges and agrees that, except as otherwise
explicitly provided in this Agreement, it does not have, assert or acquire any right, title or interest in or to any Intellectual Property Rights or other proprietary rights of the other Party or its Affiliates by entering into this Agreement.

  

	13.10	 Notices. All notices hereunder shall be delivered as follows: (a) personally;
(b) by registered or certified mail (postage prepaid); or (c) by overnight courier service, to the following addresses of the respective Parties: 

If to Teva: 
 [***] 

With a copy to: 
 [***] 

With a copy to: 
 [***] 

If to Alvotech: 
 [***] 

With a copy to: 
 [***] 

Notices shall be effective upon receipt if personally delivered, on the third Business Day following the date of registered or certified mailing, or on the
first Business Day following the date of delivery to the overnight courier. A Party may change its address listed above by written notice to the other Party. 

Wherever this Agreement provides for Teva to provide notice, information or document(s) to Alvotech, Teva’s obligation shall be satisfied by its
provision of notice, information or document(s) to either one of Alvotech. 
  

	13.11	 Exchange Controls and Conversion. All payments due hereunder shall be paid in United States
dollars. If at any time legal restrictions prevent the prompt remittance of part or all payments, payment shall be made through such lawful means or methods as the Parties may determine in good faith. Conversion of foreign currency to United States
dollars shall be made at the conversion rate existing in the United States (as reported in The Wall Street Journal) on the last Business Day of the quarter immediately preceding the applicable calendar quarter. If The Wall
Street Journal ceases to be published, then the rate of exchange to be used shall be that reported in such other business publication of national circulation in the United States as the Parties reasonably agree. 

  
 55 

	13.12	 Entire Agreement. This Agreement, together with the Schedules, Exhibits and appendices hereto,
contains the entire understanding of the Parties with respect to the subject matter hereof. 

  

	13.13	 Headings. The captions to the several Sections hereof are not a part of this Agreement, but are
merely guides or labels to assist in locating and reading the several Sections hereof. 

  

	13.14	 Waivers and Amendments. Except as expressly provided herein, the waiver by either Party hereto of
any right hereunder or of any failure to perform or any breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other failure to perform or breach by said other Party, whether of a similar nature or otherwise,
nor shall any singular or partial exercise of such right preclude any further exercise thereof or the exercise of any other such right. No waiver, modification, release or amendment of any right or obligation under or provision of this Agreement
will be valid or effective unless in writing and signed all both Parties hereto. 

  

	13.15	 Counterparts. This Agreement may be executed in two or more counterparts, (in electronic format
where necessary), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Signature pages may be exchanged by pdf via electronic mail. 

 

	13.16	 Construction. Unless expressly specified otherwise, whenever used in this Agreement, the
terms “hereby,” “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole, including all articles, sections, schedules and exhibits hereto. Whenever used
in this Agreement, the terms “include,” “includes” and “including” mean “include, without limitation,” “includes, without limitation” and “including, without limitation,” respectively.
Whenever the context of this Agreement permits, the masculine, feminine or neuter gender, and the singular or plural number, are each deemed to include the others. “Days” means calendar days unless otherwise specified. References in this
Agreement to particular sections of Applicable Law shall be deemed to refer to such sections or provisions as they may be amended after the date of this Agreement. The Parties have participated jointly in the negotiation and drafting of this
Agreement and in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party (or
any Affiliate thereof) by virtue of the authorship of any of the provisions of this Agreement. 

 REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK 
 SIGNATURE PAGE TO FOLLOW 

  
 56 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the Effective Date. 

 

			
	ALVOTECH HF.
		
	By:	 	 /s/ Robert Wessman

		 	Name: Robert Wessman
		 	Title: Chairman and authorized signatory
	
	TEVA PHARMACEUTICALS INTERNATIONAL GMBH
		
	By:	 	 /s/ Naama Bar Am

		 	Name: Naama Bar Am
		 	Title: President of the Board of Managing Officers
		
	By:	 	 /s/ Olaf Ulrich

		 	Name: Olaf Ulrich
		 	Title: Member of Management

 Schedule A 

[***] 

 Schedule B 

[***] 

 Schedule C 

[***] 

 Schedule D 

[***] 

 Schedule E 

[***] 

 Schedule F 

[***] 

 Schedule G 

[***] 

 Schedule H 

[***] 

 Appendix A to Schedule H 

[***]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]