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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.

The announced offering came alongside another potential boon for the company, as longtime commercialization partner Teva renewed its commitment to the firm, including by

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