Alvotech invests US$250 million in biosimilars

Biosimilars/News | Posted 24/01/2014 post-comment0 Post your comment

Iceland-based biopharmaceutical company Alvotech announced on 5 December 2013 that it would invest US$250 million to build a plant in Reykjavik for the development and manufacture of a portfolio of biosimilar monoclonal antibodies.

picture 138

Alvotech is a sister company of US generics company Alvogen. Through this alliance it is expected that Alvogen will add key pipeline molecules to its existing biosimilars business. Alvogen currently markets biosimilars in selected regions through alliances with other firms including Hospira and has several pending marketing authorizations worldwide.

Alvotech began construction on an 11,800 square meter development and manufacturing facility, where it will produce its own biosimilars, in the Science Park of the University of Iceland in Reykjavik in November 2013. The plant is expected to be completed by early 2016.

Iceland was chosen as a logical place to produce biosimilars, being midway between Europe and the US. The country also has few patents, meaning supplies can be made there and then shipped to markets which are patent-free.

The company’s biosimilars include versions of leading monoclonal antibody molecules, some of which are reported to already be at an advanced development stage. Alvotech intends to bring its biosimilars to market by 2018.

Permission granted to reproduce for personal and non-commercial use only. All other reproduction, copy or reprinting of all or part of any ‘Content’ found on this website is strictly prohibited without the prior consent of the publisher. Contact the publisher to obtain permission before redistributing.

Copyright – Unless otherwise stated all contents of this website are © 2014 Pro Pharma Communications International. All Rights Reserved.

Source: Alvotech

comment icon Comments (0)
Post your comment
Related content
EC approval of first ustekinumab biosimilar Uzpruvo
Biosimilars/News Posted 16/01/2024
Most viewed articles
About GaBI
Home/About GaBI Posted 06/08/2009
EU guidelines for biosimilars
EMA logo 1 V13C15
Home/Guidelines Posted 08/10/2010