Alvotech takes on might of AbbVie's Humira armory
Privately-held Icelandic biopharmaceutical company Alvotech, which is seeking to become one of the leaders in the biosimilar monoclonal antibody market, has made a statement this week by filing a lawsuit against AbbVie (NYSE: ABBV).
Alvotech is suing in a bid to end the monopoly that the Chicago-based drugmaker has long-maintained on the adalimumab market, sold as Humira.
The inflammatory diseases drug is the highest grossing prescription medicine in the USA with more than $16 billion in sales in 2020. Its global revenue last year was nearly $20 billion, though it has lost patent exclusivity in many countries outside the USA.
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