A Landmark Year for Alvotech

Patient access to medicine remains one of the defining issues facing the world, which is why I’m so proud to lead a team determined to confront this major challenge.

Biologics have become a vital, but often costly, part of healthcare. But 2024 is set to be a landmark year in the efforts to widen access to more affordable biologics through biosimilars, as well as a defining year for Alvotech, the company I founded eleven years ago.

Alvotech is dedicated to reducing the high cost of biologics and thus helping more people benefit from affordable, effective, and high-quality therapeutics.

We’re proud to have focused Alvotech on the development and production of biosimilars, which positions the company in a small group of companies globally. Alvotech has invested over $1 billion in end-to-end capabilities with a purpose-built biosimilars platform.

Last year brought us to a point where we were able to diversify our revenue base through multiple launches in major markets while continuing to advance an impressive pipeline of biosimilar candidates in major therapeutic areas. Alvotech started as a development company, and we maintain that scientific resolve and drive as we have matured into a commercial organization serving global markets.

Already this year, we’ve seen years of hard work yield more impressive results with a breakthrough approval in the U.S. of an interchangeable biosimilar for the treatment of autoimmune diseases. Outside the US, patients in Canada, Japan and Europe will soon benefit from recent approval of our second biosimilar.

These approvals are first and foremost good news for public health, but they also demonstrate – as we continue to develop products in multiple therapy areas – the importance and potential of Alvotech’s philosophy and business model.

We are determined to maintain focus and stay the course for the benefit of patients world-wide, by building on successful relationships with commercial partners on six continents.

As we embark on Alvotech’s second decade I am proud of the work of our team and excited for what we will be able to achieve. Looking back, I can say with great confidence that we are in a position to make a significant difference for healthcare in 2024 and in the years to come.