Alvotech facts for kids

Alvotech is a company that makes special medicines called biosimilars. These medicines help treat serious illnesses like cancer and diseases where the body's immune system attacks itself (autoimmune diseases). Alvotech was started in 2013 by Robert Wessman.

The company has a big factory in Reykjavík, Iceland. This factory opened in 2016. It is used to make biosimilar medicines, especially those based on "monoclonal antibodies." These are special proteins that can target specific things in the body, like cancer cells or parts of the immune system.

Alvotech's main office is in Reykjavík, Iceland. They also have research and development centers in Switzerland, Germany, and the U.S. Many scientists and experts from different countries work for Alvotech.

How Alvotech Started

Alvotech was founded in 2013. Robert Wessman, who also leads another company called Alvogen, started it. Right after it began, Alvotech announced its plan. The company wanted to create and produce many biosimilar medicines. These medicines would be based on monoclonal antibodies.

In 2014, Alvotech began working on new medicines. This helped them build up their list of biosimilar products. They also teamed up with Finesse Solutions. This partnership helped Alvotech get special lab and factory technology.

In 2016, Alvotech bought a German company called Baliopharm. This helped them grow even more. In June of that year, Alvotech opened a new research center. It is located in the Science Park of the University of Iceland in Reykjavík.