BioCentury
ARTICLE | Company News

Alvogen, Alvotech biosimilars news

December 16, 2013 8:00 AM UTC

Alvogen and undisclosed external investors will invest $250 million in Alvotech, which will use the money to develop and manufacture a portfolio of undisclosed biosimilar mAbs for the global market. Alvotech said its pipeline of six molecules includes two undisclosed biosimilars, which will begin clinical development next year and launch by 2018. Alvogen said the investment will be used over the next few years to develop the pipeline and construct a development and manufacturing facility. Alvotech's biosimilar products will be marketed by Alvogen, which created Alvotech earlier this year to develop and manufacture Alvogen's biosimilars platform. Alvotech will also work with other companies for contract manufacturing and out-licensing of its products. The companies declined to provide the funding allocations and further financial terms. ...