Alvogen builds $250m biosimilars plant in Iceland

Alvotech, an Iceland-based sister company of the privately owned US generics firm Alvogen, is to invest $250m in a biosimilars development and manufacturing facility in Reykjavik, Iceland. The plant will produce biosimilar monoclonal antibodies for marketing by Alvogen, which currently markets biosimilars in some parts of the world through alliances with other firms, including Hospira.