Alvotech

Alvotech is a global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Founded by Robert Wessman, Alvotech aims to improve lives by expanding access to affordable biologic medicines. The company employs a vertically integrated approach, controlling the entire process from cell line development through fill and finish manufacturing. This gives Alvotech the control, scale and speed needed to achieve its mission.

Alvotech's lead product is Simlandi (adalimumab-ryvk), a biosimilar to Humira. In February 2024, Simlandi became the first high-concentration, citrate-free biosimilar to Humira to receive FDA approval with interchangeability designation in the US. This allows pharmacies to substitute Simlandi for Humira without consulting the prescriber. Alvotech's US commercial partner Teva Pharmaceutical is responsible for marketing and selling Simlandi.

The company has a pipeline of eight disclosed biosimilar candidates targeting autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. In October 2023, Alvotech entered an exclusive licensing agreement with Kashiv BioSciences for the development and commercialization of ADL018, a proposed biosimilar to Xolair (omalizumab), which is in clinical development.

Alvotech became a publicly traded company in June 2022, listing on the Nasdaq stock market under the ticker "ALVO". This represented the largest debut on a US stock exchange by an Icelandic company. Alvotech's shares also trade on the Nasdaq First North Growth Market in Iceland.

Key customers and partnerships

Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets worldwide. Key partners include Teva Pharmaceuticals (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea).