The creation of a global leader in Biogenerics

Alvotech was founded in 2013 by the Chairman and CEO, Robert Wessman. His initial strategy was to invest in the development and manufacture of a portfolio of biosimilar monoclonal antibodies and to build a state-of-the-art manufacturing facility in Reykjavik Iceland.

Since then, the investment commitment has increased to more than $500 million and Alvotech has established itself as a key player and up-and-coming powerhouse in the biosimilar space.

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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