Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Alvotech Invests in Biosimilar Portfolio | Contract Pharma

What are you searching for?

Sign in
Breaking News

Alvotech Invests in Biosimilar Portfolio

Begins construction of a new development and manufacturing facility

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

Alvotech plans to invest $250 million in the development and manufacture of a portfolio of biosimilar monoclonal antibodies. Alvotech began construction of a new 11,800-square-meter development and manufacturing facility, where it will produce its own developed biosimilars. Alvotech’s current biosimilar assets include undisclosed follow-on versions of leading monoclonal antibodies, which are expected to launch by 2018.
 
Alvotech, based Reykjavik, Iceland, is a sister company of the multinational pharmaceutical company, Alvogen, which also owns Norwich Pharma Services. Through the Alvotech-Alvogen alliance, Alvogen will add key pipeline molecules to its existing biosimilar business. Alvogen currently markets biosimilars in selected regions through alliances with other firms including Hospira, and has several pending marketing authorizations worldwide.
 
“At Alvotech we are inspired to help patients around the world by increasing the accessibility and affordability of high quality biopharmaceuticals,” said Dr. Andreas Herrmann, chief executive officer of Alvotech, “By combining Alvotech’s development and manufacturing excellence with Alvogen’s global marketing platform, we are taking a significant step toward becoming a major player in the biopharmaceutical industry and bringing valuable investment to support our growth.”

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics