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Alvotech PIPE Financing Round Overshoots By $21m

Icelandic Firm Now Anticipates $475m Gross Proceeds Via SPAC Merger

 
• By Dean Rudge

“Testament to the strong interest we have received from long-term investors as we continue our business combination with Oaktree II,” Alvotech is now set to raise in excess of $175m from an upsized PIPE financing round, representing $21m of additional commitments.

fund raising
Alvogen is set to merge with a black check company • Source: Alamy

A private financing round with funds launched as part of Alvotech’s proposed merger with a special purpose acquisition company has oversubscribed by $21m, driven by increased interest from investors in the biosimilar firm’s native Iceland.

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Final Chance To Have Your Say: Take Our Reader Survey This Week

 
• By Eleanor Malone

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

Shape Our Content: Take The Reader Survey

 
• By Eleanor Malone

Editor’s note: We are conducting a survey to better understand our subscribers’ content and delivery needs. If there are any changes you’d like to see in the coverage topics, content format or the method in which you receive and access Generics Bulletin, or if you love it how it is, now is the time to have your voice heard.

Is Towa’s Guidance For 2024 ‘Somewhat Mediocre?’

 
• By Dean Rudge

Bringing in sales that translated to nearly $1.5bn last year, Japan’s Towa was feeling upbeat after a challenging few years, both for itself and the broader Japanese generics market. However, its financial guide for the next 12 months has left investors feeling cold.

Publisher’s Spotlight: Citeline News And Insights App

 
• By Generics Bulletin Team

Introducing the all-new Citeline News and Insights app, providing seamless access to all your favorite award-winning publications. Explore the latest articles from Pink Sheet, Scrip, In Vivo, Medtech Insight, Generics Bulletin and HBW Insight, all in one stylish, intuitive and user-friendly platform.

More from Generics Bulletin

US Bill Recap: Senate Judiciary Committee Offers Fresh Start For Reintroduced Off-Patent Drug Bills

 
• By Urtė Fultinavičiūtė

The US Senate Judiciary Committee’s Chairman Chuck Grassley criticized the Senate’s reduced working hours as six previously introduced bills once again land on their desk.

Jazz Agrees To Fork Out $145m To Resolve Most Xyrem ‘Pay-For-Delay’ Claims

 
• By Dean Rudge

Jazz has agreed a nine figure settlement agreement in the US with purchasers of its Xyrem blockbuster following claims that it illegally delayed generic competition to the blockbuster treatment for narcolepsy via patent-litigation settlement agreements with several ANDA sponsors.

Missing BsUFA Revenue Trigger Could Open US FDA Staff To Criminal Penalty

 
• By Derrick Gingery

Massive layoffs and the biosimilar user fee program’s historic flirtation with the non-user fee spending requirements raise concerns that the FDA could lose its ability to collect BsUFA revenue, which could mean a fine or jail time for agency staff.