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Alvotech On The Financing Trail Once More Amid Teva Commitment

Icelandic Firm To Issue More Convertible Bonds, Eyeing $100m Boost

 
• By Dean Rudge

Alvotech has its eyes on raising more cash to fund operations and ease the pain of missing out on an FDA approval for its Teva-partnered Humira (adalimumab) biosimilar.

difficult financing
• Source: Shutterstock

Alvotech is looking to stem the bleeding from its recent failure to secure a lucrative approval for its proposed AVT02 biosimilar Humira (adalimumab) in the US by raising up to $100m via an overseas private placement of convertible bonds, in the latest of the public company’s financing endeavors.

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