Alvogen continues to expand its biotech capabilities through its sister company, Alvotech, which has already recruited more than 40 new science professionals to its team, since it first broke ground in November 2013 with the building of a vast state-of-the-art development and manufacturing facility in the science park of the University of Iceland in Reykjavik.
The facility is scheduled to open early next year and its manpower seems sure to continue growing, both domestically and globally. Back in 2013, Alvogen announced it planned to invest $500 million in the development and manufacturing of a portfolio of biosimilar monoclonal antibodies. The company’s declared ambition at the time was to become a powerful new player in the field of biopharmaceuticals and it is now well on the road toward achieving that goal. Alvogen continues to rapidly expand and, in addition to working with Alvotech, it currently markets biosimilars in selected regions through alliances with other firms. It has made a great deal of progress in this field and already boasts a leading presence in several Central and Eastern Europe (CEE) markets where it recently announced the launch of three biosimilars in partnership with the U.S-based global pharmaceutical company, Hospira.
Alvogen and Hospira formed their strategic partnership in 2011 to provide the highest quality products and services in an alliance that enables them to give increased access to the newest biosimilar drugs with state-of-the-art technology. Together they launched Europe's first biosimilar monoclonal antibody (mAb) therapy for the treatment of inflammatory conditions including rheumatoid arthritis (RA), ankylosing spondylitis, Crohn's disease (CD), ulcerative colitis (UC), psoriatic arthritis (PsA) and psoriasis. The product will be marketed to Bulgaria, Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, and Romania.