Alvotech is an independent sister company of the USA-based generics drugmaker, Alvogen, led by Robert Wessman.

It has six key biosimilar molecules in development and a new state-of-the-art manufacturing plant for development and commercial supply. Alvotech is investing more than $500 million in the development of its pipeline and facility.

In May 2016 the company announced the acquisition of German biotech Baliopharm GmbH to add complimentary capabilities to its biosimilar development.