Private Financing Round Values Alvotech At $1.5bn
Icelandic Firm Plans To Raise $100m
Having previously announced plans for a public listing, biosimilars company Alvotech has raised tens of millions of dollars though a private placement of new shares, providing further firepower to develop its vast portfolio of candidates.
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A network of marketing deals with key players across the globe has laid the foundations for Alvotech’s biosimilars to be marketed worldwide, the company’s founder and chairman tells Generics Bulletin in an exclusive interview.
Longtime partners Alvotech and Fuji Pharma – the latter being a minority shareholder in the Icelandic firm – have extended their existing biosimilars partnership in Japan, as Alvotech continues to make strategic moves across the globe.
After launching in the US last year, the teriparatide product developed by Pfenex and Alvogen has been introduced in Europa, via commercialization partner Theramex, beginning with Germany.