Teva pharmaceuticals and alvotech provide update on strategic biosimilars partnership

Tel aviv, israel and parsippany, n.j. and reykjavik, iceland, july 24, 2023 (globe newswire) -- teva pharmaceuticals, inc., a u.s. affiliate of teva pharmaceutical industries ltd. (nyse and tase: teva), a global leader in generic and innovative medicines and alvotech (nasdaq: alvo), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that they have agreed to expand their existing strategic partnership agreement. teva will also acquire subordinated convertible bonds to be issued by alvotech.
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