Alvotech opens state-of-the-art biosimilar facility in Iceland

The new facility will significantly increase Alvotech’s production capacity enabling the group to produce higher yields at lower costs.

Through the Alvotech-Alvogen alliance, Alvogen directly benefits from the growth of Alvotech due the increased supply of products coming to market. Alvotech currently runs five offices in Iceland, Germany, Switzerland and Malta, which in turn helps Alvogen to maximise its distribution of the products. Alvogen is already advanced in the distribution of biosimilars through its relationship with Hospira/Pfizer and it currently distributes products in 35 countries with a target revenue generation of $3 billion by 2020.

Alvotech has worked with the FDA and European EMA regulatory agencies to design and build a facility complying with the highest quality standards. The 13,000 m2 facility is located the science park of the University of Iceland in Reykjavik. Iceland offers a favourable operating environment with a strong regulatory system and a convenient geographical location. Furthermore the new facility will significantly increase Alvotech’s production capacity enabling the group to produce higher yields at lower costs.

Robert Wessman, Chairman and CEO of Alvogen said: “The relationship we have with Alvotech continues to form a central component of our own growth strategy as we continue to expand our global network. The opening of this new facility, helps us to establish ourselves as leaders in the biopharmaceutical industry. Our focus is on our patients and, with this new state-of-the-art manufacturing facility, combined with our commercial network, we are able to continue to deliver high quality products to our customers.”