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Alvotech Reveals Ramp-Up In Development As Sales Explode In 2024

Huge Acceleration In New Biosimilar Programs Comes As Results Deliver

 
• By Dave Wallace

With sales and profits shooting up in 2024, Alvotech has revealed plans to rapidly accelerate development to add between four and six programs to its pipeline of biosimilars every year, while at the same time unveiling details of several new brands that it will be seeking to challenge. The firm has also set out longer-term financial targets that anticipate more than trebling its revenues in the next three years.

Alvotech is ramping up R&D after delivering a huge sales boost (Shutterstock)

Alvotech is aiming to have the largest pipeline of any biosimilars developer, after announcing a major ramp-up in development that will see the firm more than quadruple the rate at which it kicks off new programs. The announcement came as the company published annual results for 2024 that saw its sales and profits skyrocket, on the back of key launches and development milestones achieved last year.

“Three of our early-stage programs are moving into pre-clinical development this year,” indicated chairman and CEO Robert Wessman during the...

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