Alvotech Disputes AbbVie’s Recent Allegations

 REYKJAVIK, Iceland-Friday 26 March 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- 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/

Contacts

Alvotech

Corporate Communications

Elisabet Hjaltadottir

E-mail: Alvotech.media@alvotech.com

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