Alvotech

#3809

Rank

$2.51B

Marketcap

Iceland

Country

Leadership team

Mr. Robert Wessman (Founder & Exec. Chairman of Directors)

Mr. Mark Levick (Chief Exec. Officer)

Mr. Joel Morales (Chief Financial Officer)

Products/ Services

Biotechnology, Life Science

Number of Employees

500 - 1000

Headquarters

Reykjavík, Gullbringusysla, Iceland

Established

2013

Company Registration

SEC CIK number: 0001898416

Revenue

20M - 100M

Traded as

ALVO

Social Media

URL

https://www.alvotech.com

Overview

Location

Recognition and Award

References

Summary

Alvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass. It also offers AVT05, a biosimilar to Simponi and Simponi Aria, which is in early phase development to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, ulcerative colitis, and other indications; AVT16, a biosimilar to an immunology product; AVT23, a biosimilar to Xolair, which is in late-stage development to treat nasal polyps; and AVT33, a biosimilar to an oncology product. The company was founded in 2013 and is headquartered in Reykjavik, Iceland.

History

Alvogen was founded in 2009 by Robert Wessman, who stepped down from his position as CEO of Actavis in order to found the company. Soon after its founding it had 200 products in development. Since 2012, Alvogen has acquired three different companies in Taiwan and South Korea , where it operates as Lotus Pharmaceuticals and is listed on Taipei Stock Exchange . In 2015, Alvogen acquired DreamPharma for $187 million. It is also the parent company of Norwich Pharmaceuticals, which does the firm's manufacturing.In 2015, a controlling interest in Alvogen was acquired by CVC Capital Partners and the Singapore sovereign fund Temasek. As of 2017, the company had 2800 employees spread over thirty-five countries. In 2016, Alvogen also acquired the US company County Line Pharmaceuticals for $300 million. In 2017, Alvogen was valued at $4 billion.

Mission

At Alvotech, our mission is to be the partner of choice for patients and healthcare providers by developing and delivering innovative, high-quality biosimilars that help improve patient lives.

Vision

Alvotech’s vision is to build a world where everyone lives healthier lives and have access to treatments that make life something worth celebrating.

Key Team

Mr. Sean Gaskell (Chief Technical Officer)

Mr. Joseph E. McClellan (Chief Scientific Officer)

Ms. Rose-Marie Ohlsson (Chief Information Officer)

Mr. Ming Li (Chief Strategy Officer)

Ms. Sigridur Elin Gudlaugsdottir (VP of HR)

Ms. Tanya Zharov (Deputy Chief Exec. Officer)

Mr. Anil Okay (Chief Commercial Officer)

Recognition and Awards

Alvotech has been awarded with the European Biopharma Company of the Year Award, European Biotech of the Year Award, and the Grand Prix of the French Biotech Association Award .