Alvotech Disputes AbbVie’s Recent Allegations
Alvotech strongly disputes AbbVie’s allegations of wrongdoing relating to AVT02, Alvotech’s proposed biosimilar to HUMIRA® (adalimumab). Alvotech will vigorously defend against these allegations.
Notably, AbbVie waited over three years from the purported date of the alleged wrongdoing to file its case, doing so after the ex-AbbVie employee had already left Alvotech and without naming the ex-AbbVie employee as a defendant.
This lack of urgency causes Alvotech to question the motivation behind the case. Indeed, Alvotech believes that the case may be part of a larger AbbVie strategy to delay an emerging competitor from providing patients with a lower-cost alternative to AbbVie’s HUMIRA® high-concentration product.
Alvotech will continue its efforts to increase accessibility to high quality and affordable medicines.
About Alvotech:
Alvotech is a multinational biopharmaceutical company focused on the development and manufacture of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech’s shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Cipla Gulf FZ from Australia and New Zeland, Shinhan from Korea, Baxter Healthcare SA, YAS Holdings, ATHOS (Strüngmann Family Office), CVC Capital Partners and Temasek from Singapore.
Alvotech‘s initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005659/en/
Contact information
Alvotech
Corporate Communications
Elisabet Hjaltadottir
E-mail: Alvotech.media@alvotech.com
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Alira Health Strengthens Its Growth Strategy With a $35M Funding, Led by Creadev12.4.2021 15:00:00 CEST | Press release
Alira Health (www.alirahealth.com), a leading international advisory firm dedicated to advancing healthcare and life sciences, announced it has closed a $35M equity financing led by Creadev, an evergreen investment company backed by the Mulliez family. This new partnership will help accelerate the firm’s growth strategy, focused on merging pharmaceutical, medical and digital technologies development with medical care through a patient-centric approach. “I would like to thank our team of investors for joining our mission to enable healthcare transformation. Their investment positions us to change the way life sciences advisory services are delivered,” said Gabriele Brambilla, Chief Executive Officer and Co-Founder of Alira Health. “We are building a powerful continuum of services that spans the product and solutions development life cycle, supported by the recent additions of our patient engagement, real-world evidence and advanced analytics practices. This financing allows us to advanc
KD Pharma Acquires Phytoextract and CBD Manufacturing Assets12.4.2021 14:45:00 CEST | Press release
The KD Pharma Group has acquired the manufacturing assets of a Swiss-based cannabinoid manufacturer. The assets give KD Pharma access to technology for producing Active Pharmaceutical Ingredients (APIs) based on phytocannabinoids and other plant extracts. The technology further expands KD’s lipid technology portfolio and can be used in combination with KD’s other fractionation and separation technologies. “KD Pharma is a leader in lipid technology focused primarily on omega-3s, but our technology suite has applications in other lipid sources like cannabinoids,” said Oscar Groet, CEO of the KD Pharma Group. “We have committed to expanding our technology portfolio to develop APIs from cannabinoids and plant extracts,” Groet continued, “and these assets give KD Pharma additional pathways to develop new products for this emerging market.” The KD Pharma Group has also licensed a novel extraction method from Herbolea Biotech S.r.l. and expects to have a complete, licensed cGMP manufacturing
Globality and BT Sourced Announce New Partnership to Unleash the Power of Procurement12.4.2021 14:00:00 CEST | Press release
Through a new partnership with Globality and BT’s new procurement company, BT Sourced, BT launched Globality’s AI-powered Smart Sourcing® Platform to transform how BT employees source and procure services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005173/en/ “BT’s changing and so is procurement. Digitization is the driving force for long-term growth and value to the BT customer and operating model,” said Cyril Pourrat, Chief Procurement Officer, BT. “Partnering with Globality will help us to embrace digital technology and simplify our processes.” “Having immediate access to our current suppliers and Globality’s diverse global network will bring agility and new value to our teams,” added Pourrat. BT now uses Globality’s AI advisor, Glo™, to quickly and easily source the best suppliers for consulting, marketing, IT, HR, legal and other service categories. “BT is revolutionizing the way it sources services in order t
FLIR Wins DARPA Contract Worth Up to $20.5M to Develop Revolutionary New Protective Fabrics for Chem-Bio Defense12.4.2021 14:00:00 CEST | Press release
FLIR Systems, Inc. (NASDAQ: FLIR) announced it has won a contract with the Defense Advanced Research Projects Agency (DARPA) to rapidly develop novel fabrics with embedded catalysts and chemistries that can fight and reduce chemical and biological threats upon contact. The revolutionary fabrics will be incorporated into protective suits and other equipment such as boots, gloves, and eye protection that can be worn by troops on the battlefield, medical experts, healthcare workers, and more. FLIR received $11.2 million in initial funding for the potential five-year effort worth up to $20.5 million, including options. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005140/en/ The Personalized Protective Biosystems (PPB) program will create fabrics with built-in ability to fight chemical and biological agents, from VX to chlorine gas to Ebola virus. The revolutionary fabrics being developed by FLIR Systems will be incorpora
Mirum Pharmaceuticals and Vivet Therapeutics Enter into Exclusive Worldwide Option and License Agreement for Vivet’s Gene Therapy Programs Targeting Progressive Familial Intrahepatic Cholestasis12.4.2021 14:00:00 CEST | Press release
Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) and Vivet Therapeutics (“Vivet”) announced today an agreement whereby Mirum has the exclusive option to develop and subsequently commercialize Vivet’s two proprietary AAV gene therapy programs for progressive familial intrahepatic cholestasis (PFIC), subtypes 3 and 2. The two programs, VTX-803 and VTX-802, are currently being evaluated in preclinical studies by Vivet, a privately-held gene therapy biotechnology company. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005354/en/ Under the terms of the agreement, Vivet will continue to advance the preclinical studies for VTX-803 and VTX-802 for PFIC3 and PFIC2, respectively. Mirum has the exclusive option to license the programs after which Mirum would lead the clinical development and any future commercialization of the programs. Until that time, Mirum will provide funding to support the continued research and development costs
Riffyn Launches Riffyn Nexus v4.2 to Strengthen Bioprocess Data Integrity With Automated Data Validation12.4.2021 13:50:00 CEST | Press release
Riffyn's pioneering cloud-based process data system for Intelligent Process Development has been upgraded with more powerful capabilities. The new features in Riffyn Nexus v4.2 enable customers to validate data real-time at a large scale with the ability to trace the root cause of an anomaly. Data integrity in process development is critical to rapid, high-quality drug and biotech product development. Inadequate data can mislead decisions and cost tens of million dollars in lost time, resources, and investment by sending an entire product development program down the wrong path. "Riffyn Nexus now gives the complete package of capabilities needed for process developers to ensure data integrity in their decision-making, while preserving their agility to innovate," said Riffyn CEO Timothy Gardner. "The new features in Riffyn Nexus automatically check all the collected data on each experiment in real-time — 3,300 samples, parameters, or measurements checked per second." Riffyn Nexus has al
The Estée Lauder Companies Announces Retirement of Alexandra Trower, Executive Vice President, Global Communications12.4.2021 13:00:00 CEST | Press release
Today,The Estée Lauder Companies (NYSE:EL) (ELC) announced that after 13 years with the company, Alexandra (Alex) Trower, Executive Vice President, Global Communications, will retire effective July 1, 2021. The successor to Alex’s role will be announced at a later date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005450/en/ Alex Trower, Executive Vice President, Global Communications, The Estée Lauder Companies, announces retirement. (Photo: Business Wire) “Alex has been a highly respected thought-leader, collaborative partner, and a trusted senior business advisor,” said Fabrizio Freda, President and CEO, The Estée Lauder Companies. “Leveraging her deep expertise across financial, corporate, consumer and crisis communications, Alex has continuously evolved our strategic communications priorities to drive and support the rapid growth of our business. She built a truly outstanding, global, multi-disciplinary organiza