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 complex biosimilar products. Alvotech has established itself as a key player in the biosimilar space, with an operational integrated development and a manufacturing platform, a solid development pipeline, and a dedicated and growing team of experts embracing our culture.

Our milestones


  • Founding of Alvotech and start of development for the first two biosimilars
  • Breaking ground on state-of-the-art, 13,278 squaremeters single use biomanufacturing facility in Reykjavik, Iceland
  • Strategic investments to increase R&D capabilities


  • Development of next two product candidates initiated, bringing pipeline to four biosimilars
  • Partnership agreement with a global pharma company signed


  • Continuing product development and facility establishment build-up of capacity and staff


  • Next two biosimilars selected to bring pipeline to six assets
  • Acquisition of development arm of Baliopharm GmbH to further strengthen our R&D platform
  • Manufacturing facility undergoing first inspection
  • Inauguration of our Icelandic facility


  • One biosimilar selection to bring pipeline to seven assets
  • Acquisition of Glycothera in Hanover, Germany adding further analytical capabilities and expertise

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