Alvotech acquires xbrane's r&d operations in sweden and further affirms its global leadership position in biosimilars development and production

Alvotech (nasdaq: alvo), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the acquisition of xbrane biopharma ab's (“xbrane”) r&d operations and a biosimilar candidate (the “acquisition”), further expanding alvotech's development capabilities, and establishing a footprint in the swedish life science sector. the acquisition includes xbrane's r&d operations based in campus solna, at the karolinska institute outside stockholm, sweden, as well as the biosimilar candidate xb003, referencing cimzia® (certolizumab pegol). xbrane retains other pre-clinical assets and will focus on the commercialization of this portfolio. alvotech also announced that it intends to explore the possibility of a listing of swedish depository receipts (sdr), equity share equivalents, on nasdaq stockholm, in the future.
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