The creation of a biosimilar company

Alvotech was founded in 2013 by the Chairman and CEO of Alvogen, Robert Wessman. Shortly after its creation, Alvotech announced its strategy to invest in the development and manufacturing of a portfolio of biosimilar monoclonal antibodies, followed by the ground breaking of its biomanufacturing facility in Reykjavik Iceland.

Since then, Alvotech’s investment commitment has increased to more than $500 million for the development of a pipeline of six monoclonal antibodies. Alvotech has established itself in the industry as a key player in the biosimilar space, with global partnerships in place, integrated development and a manufacturing platform in operation, as well as a solid pipeline in development and dedicated growing team of experts embracing our culture.

Our milestones

2013

  • Founding of Alvotech and development of first 2 biosimilars started breaking ground on a 13,278 square
    meters biomanufacturing facility in Reykjavik, Iceland
  • Strategic investments to increase R&D capabilities

2014

  • Initiation of development of next 2 biosimilars, bringing pipeline to 4 biosimilars
  • New partnership agreement with a global pharma company signed

2015

  • Successful first regulatory interactions for first Alvotech asset
  • First fermentation run successfully completed in Reykjavik facility

2016

  • Next 2 biosimilars selection to bring pipeline to 6 assets
  • Acquisition of development arm of Baliopharm GmbH To further strengthen our R&D platform
  • Intended acquisition of Glycothera adding analytical capabilities and expertise
  • Icelandic Facility readiness inspection
  • First round of debt financing secured to support further growth
  • Inauguration Icelandic facility

2017

  • One biosimilar selection to bring pipeline to 7 assets

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