Alvotech
- Country
- 🇮🇸Iceland
- Ownership
- Public
- Employees
- 999
- Market Cap
- $3.5B
- Website
- http://www.alvotech.com
- Introduction
Alvotech is a biotechnology company, which engages in the development and manufacture of biosimilar medicines. The firm is focusing on the development of its product candidates. It operates through the following geographical segments: Europe, North America, Asia, and Other. The company was founded by Róbert Vilhelm Wessman in 2013 and is headquartered in Luxembourg.
EMA Recommends Approval of Alvotech's Biosimilar to Eylea for Eye Disorders
The European Medicines Agency's Committee for Medicinal Products for Human Use adopted a positive opinion recommending approval for AVT06, Alvotech's proposed biosimilar to Eylea (aflibercept 2 mg).
Major PBMs Exclude Humira Biosimilars from 2025 Formularies, Favor Private-Label Products
The three largest U.S. pharmacy benefit managers have excluded nearly all marketed Humira biosimilars from their 2025 standard formularies, marking a dramatic shift from 2024 when eight products were covered.
Dr. Reddy's and Alvotech Partner to Develop Keytruda Biosimilar in $29.5 Billion Market
Dr. Reddy's Laboratories and Alvotech have entered a collaboration and license agreement to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab) for global markets.
Alvotech and Advanz Pharma Expand $13.8 Billion Biosimilar Partnership with Three New Candidates
Alvotech and Advanz Pharma have expanded their strategic partnership to include three additional biosimilar candidates, bringing their total European portfolio to more than ten reference products.
Alvotech Expands European Presence with Successful Nasdaq Stockholm Listing
Alvotech's Swedish Depository Receipts (SDRs) offering was multiple times oversubscribed, attracting over 3,000 new shareholders and raising approximately SEK 39 million.
Alvotech's Xolair Biosimilar AVT23 Achieves Positive Phase III Results and UK Regulatory Acceptance
Alvotech, Kashiv Biosciences, and Advanz Pharma announced positive topline results from a confirmatory efficacy study of AVT23, a proposed biosimilar to Xolair (omalizumab), demonstrating therapeutic equivalence and comparable safety in chronic spontaneous urticaria patients.
FDA Accepts Teva's Applications for UZEDY in Bipolar Disorder and AJOVY for Pediatric Migraines
Teva Pharmaceutical Industries saw a 14% stock price increase following FDA acceptance of a Supplemental New Drug Application for UZEDY, an extended-release injectable for maintenance treatment of bipolar I disorder.
Ten Adalimumab Biosimilars Now Available in US Market Following Latest FDA Approval
The FDA has approved ten adalimumab biosimilars, with Simlandi (adalimumab-ryvk) becoming the latest addition in February 2024, expanding treatment options for various autoimmune conditions.
J&J Files Lawsuit Against Samsung Bioepis Over Stelara Biosimilar Contract Dispute
Johnson & Johnson has initiated legal action against Samsung Bioepis, alleging breach of contract regarding an unauthorized sublicense deal for Stelara biosimilar Pyzchiva.
Global Biosimilars Market Set to Triple to $114 Billion by 2031, Driven by Patent Expirations and Cost Advantages
The global biosimilars market is projected to grow from $36.01 billion in 2024 to $114.02 billion by 2031, representing a robust CAGR of 17.9%, fueled by increasing demand for cost-effective biologics.