"It is our aim to broaden the availability of these important biologic medicines to patients around the world by developing and manufacturing high-quality, cost-competitive biosimilars."

Since their first use in the 1980s, biologic medicines have grown to become an indispensable tool in modern medicine. Advancements in biologic research and development have pushed the frontiers of science, bringing lifesaving treatments to patients suffering from deadly diseases, such as cancer. Biologic therapies have also helped patients make great strides in managing chronic diseases like multiple sclerosis, diabetes, rheumatoid arthritis, and Crohn’s disease. Biologics are innovative treatment options for patients affected by debilitating and life-threatening diseases; however, they are often associated with high costs and limited patient access. Fortunately, more affordable options for many patients who rely on biologic treatments are beginning to enter the market: biosimilars.

A biosimilar is a biologic medicine that is highly similar to a previously approved reference biologic currently on the market. Biosimilars are important because they have an opportunity to provide competition in the market and expand patient access to critical medicines, much like the advent of generic medications more than 35 years ago. We live in an era of biologic medicine. With an aging population and growing demand for treating chronic conditions, biologic use is on the rise. And in an environment where health decisions are increasingly made based on value and cost, biosimilars will play a vital role in improving patient access to needed medicine. The launch of new biosimilars over the next decade could save consumers as much as $250 billion and boost access to biologic treatments for an additional 1.2 million patients by 2025. That expands treatment options for chronically ill patients and allows greater use of biologic medicines overall by providing more affordable access to individuals who in the past have either forgone treatment or settled for less effective medicine.

Alvotech is one such company, which has a deep appreciation for the positive impact biologic medicines have had on the healthcare sector. From insulin to vaccines to monoclonal antibody cancer therapies, biologic medicines are revolutionizing the way they treat diseases and improve patient lives. It is their aim to broaden the availability of these important biologic medicines to patients around the world by developing and manufacturing high-quality, cost-competitive biosimilars. The company is driven by a commitment to the promise of biosimilars is foundational to their approach, their culture and the strong sense of purpose that inspires them to work smarter and faster towards this mission. By lowering costs for existing treatments, Alvotech can potentially make healthcare systems more sustainable while freeing up resources to fund next-generation, innovative branded biologics.

"Our commitment to the promise of biosimilars is foundational to our approach, our culture and the strong sense of purpose that inspires us to work smarter and faster towards this mission."

Biosimilars and Sustainability

Biosimilars provide a more cost-effective alternative to health systems, payers and patients. The promise of biosimilars is greater access to these life-changing biologics for those who could otherwise not afford them. The high price of biologics, which can sometimes exceed $100,000 per patient per year, means these medicines are unavailable to the majority of the global population which still uses more affordable, conventional medicines to ‘manage’ conditions where biologics could be more effective. In Brazil and Mexico, approximately 40% of patients with tumor types eligible for treatment with biologics do not receive the biologic medicine. Each biosimilar is made using the same amino acid starting materials and the same precise, step-by-step processes as its reference drug — a well-tested, widely used biologic drug that’s already been on the market for years. All biosimilars are prescription drugs. You cannot get them without your health care professional’s prescription.

While biologics provide leading-edge advancements, biosimilars provide a sustainable way forward for public health budgets, payers and healthcare systems around the world. If there is a proven treatment, they believe it should be accessible to all eligible patients. By lowering costs for existing treatments, they can potentially make healthcare systems more sustainable while freeing up resources to fund next-generation, innovative branded biologics. In this way, they believe that biosimilars not only fuel expanded access to affordable biologics but can help to sustain the global biotech innovation ecosystem.

Q. Why Alvotech?

At Alvotech, they specialize in biosimilars and love what they do. The company has over 900 professionals across multiple countries, and is united by commitment to improving lives by expanding access to affordable biologic medicines. It’s this purpose-driven culture that unifies them and diverse set of expertise that generates the acumen, ingenuity and drive to achieve their mission together. Alvotech benefits from a motivated, passionate and empowered workforce that is not only representative of the diverse marketplace they serve, but also collaborative and fully engaged. They bring together the brightest minds, investing in science and people to deliver to their partners and patients around the world.

The Alvotech Difference

Curiosity: Alvotech is inquisitive and believe in continuous learning from each other, through critical discourse and from their experiences.

Passion: The company is passionate about work and life - advancing health and equality while promoting diversity and sustainability.

Simplicity: They build efficient and well-defined processes - a quality mindset is fundamental to everything they do.

Ingenuity: Alvotech is inventive at heart and approach their work with a pioneering mindset, always searching for opportunities for continuous improvement.

Agility: The company is nimble and empower their teams to be proactive - adapting to change with a positive mindset and leading with data-driven solutions.

Integrity: They are honest, transparent and respectful and strive to remove barriers, communicating directly and effectively with each other.

Better Access. Better Lives.

Alvotech is led by science, driven by passion, and committed to biosimilars. They are continually evaluating additional pipeline opportunities to bring a strategic and robust selection of treatment options to patients around the world. Working with Alvotech means gaining access to a partner highly committed to the development and manufacture of high-quality, cost-competitive biosimilars. They look for commercial partners that share their passion for broadening the access of biosimilars to patients around the world and that have the deep expertise to make the promise of biosimilars a reality. The company is open to partnerships and license agreements for their biosimilar assets worldwide. They believe that by working together, and can benefit from the best of what they bring to each other and the value they create for the customers.

The Ardent Visionary behind Alvotech's Success

Róbert Wessman is the Founder and Chief Executive Officer of Alvotech. He is known for his passion for improving patient lives and the global healthcare ecosystem, his unwavering focus and his ability to successfully combine operational efficiency with growth through strategic acquisitions. He recognized the potential early on for locating a biotechnology company in Iceland and founded Alvotech in 2013, further contributing to the pharmaceutical industry growth there.

Prior to founding Alvotech, Róbert Wessman transformed Actavis, originally a small domestic pharmaceutical company, into the fourth largest generics company in the world within 7 years as CEO. He also founded Alvogen in 2009 as a US-based CMO prior to growing it into a top global generics company over the course of six years. In total over his more than 20-year career in the pharmaceutical industry, he has led over 50 strategic acquisitions and partnerships and established operations in over 60 countries around the world.

His leadership and achievements have made him the subject of three Harvard Business School Case Studies, “Róbert Wessman and the Actavis Winning Formula” (2008), “Alvogen” (2015) and “Alvogen: Scaling Entrepreneurship” (2018). Róbert is a business graduate and former lecturer at the University of Iceland.

"We are driven by passion - if there is a proven biologic medicine, we believe it should be accessible to all patients in need."