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Alvotech Raises Further Funds After FDA Green Light

Biosimilars Developer Accepts $166m Offer For 10.1m Shares Following US Approval

 
• By Dave Wallace

Alvotech has announced a share sale that will raise $166m for the biosimilars developer, in the wake of its recent US Food and Drug Administration approval for its AVT02 adalimumab biosimilar, Simlandi.

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Alvotech recently received an FDA green light for its adalimumab biosimilar

Hot on the heels of Alvotech’s long-awaited US Food and Drug Administration approval for Simlandi (adalimumab-ryvk) – the first interchangeable, citrate-free, high-concentration biosimilar rival to Humira approved in the US (see sidebar) – the developer has announced a share sale that will bring in $166m.

Alvotech – which is expected to report its fourth-quarter and full-year results for 2023 next month – revealed just a couple of days after the FDA approval was received for the AVT02 candidate that it had “accepted an offer from investors for the sale of 10,127,132 of its

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