Alvotech is a global biopharmaceutical company dedicated to becoming one of the leaders in the biosimilar monoclonal antibody market. Alvotech is an independent sister company of the international pharmaceuticals company, Alvogen, led by Robert Wessman.
The company has six key biosimilar molecules in development and a new state-of-the-art manufacturing plant for development and commercial supply. Alvotech is investing over $500 million in the development of its pipeline and facility.
By the year 2020, over $100 billion of biologic pharmaceutical products are expected to lose patent protection and many large monoclonal antibody therapies are coming off patent globally after 2018. Many of these products are among the highest selling drugs in the world today.
Alvotech’s management team is building a leading biopharmaceutical company. Our organizational structure is effective, flexible and has a proven track record that will enable the company to bring new biopharmaceutical products quickly and safely to market. Robert Wessman is the Chairman and founder of Alvotech and the leadership team is helmed by Dr. Andreas Herrmann.
Alvotech already broke ground for the construction of a new 12,000sqm development and manufacturing site. The site will provide Alvotech with capability and access to a new state-of-the-art, fully vertically integrated biologics manufacturing plant, located in the science park of the University of Iceland in Reykjavik.
Iceland offers a favorable environment with a strong regulatory system, low operating costs, a great talent pool, high quality standards and a convenient geographical location between the EU and US that is within easy reach of the rest of the world.