A ground-breaking ceremony for the extension of Alvotech's high-tech centre in Reykjavík took place today. Robert Wessman, Chairman of the Board, Dagur B. Eggertsson, Mayor of Reykjavik and Jon Atli Benediktsson, Rector of the University of Iceland, took the first shoveling together with key employees who have been involved in the project.
The extension, which will be 12,500 m2, is almost a doubling of Alvotech's current facilities in the University of Iceland's Science Parks, and expected to be completed by the end of 2022.
"It is a great delight to end this difficult year, which was marked by the battle against Covid-19 and subsequent gravities, with such a positive step towards the future evolution of the company. It was neither an obvious nor an easy choice, in 2013, during a period when capital controls were being imposed, to base Alvotech in Iceland. After a thorough examination of several locations, it was finally the management's decision to base the company in Iceland. It is therefore extremely gratifying, seven years on, to double the size of the facilities in Iceland, establishing the foundation for the commercialization of its first biosimilars internationally.
The expansion of the centre is a continuation of a journey that began in 2013 with the establishment of Alvotech, but shortly afterwards the construction of the company's high-tech centre began in Reykjavik. The extension will house biosimilar development, drug refills, offices and warehouses, in addition to facilities that the company will provide to the University of Iceland's Biotechnology Department, continuing the vigorous collaboration with the university. The facilities will enable the university to further strengthen the master's program in industrial biotechnology and provide more students with internships at the company.
