Alvotech

ABOUT THE COMPANY

Founded by Róbert Wessman in 2013, Alvotech is an Iceland-founded biopharmaceutical company that specializes in the production of biosimilars, medical products that very closely resemble original biologic medicines. Wessman began Alvotech with an initial strategy of producing a new standard of biosimilar medicines, which was supported by the construction of a state-of-the-art manufacturing plant in Reykjavik in 2021. In its short history, Alvotech built four production sites across Europe, developed a series of biologic products, and partnered with leading pharmaceutical companies in over sixty countries. On June 15, 2022, Alvotech merged with Oaktree Acquisition Corp. II, which allowed Alvotech to increase the accessibility and affordability of its products worldwide. Later, in June of 2022, shares of Alvotech were listed on the Nasdaq Stock Market in Iceland.

Today, Alvotech employs an experienced leadership team with a diverse range of industry professionals. Its mission of increasing the accessibility of its biologic medicines to patients around the world drives the company in continued innovation and sustainability. Most recently, on November 4, 2024, Alvotech and UK global pharmaceutical company Advanz Pharma, announced European Medicines Agency marketing approval for its AVTO5 biosimilar. Similarly, on October 22, 2024, Alvotech and U.S. partner Teva Pharmaceuticals announced FDA approval for its SELARSDI biosimilar product. These milestones align with the company’s future expansion goals in broadening the global reach of these medicines.

As Alvotech looks ahead, the continued development of its product pipeline and the global expansion of its products through strategic partnerships remain at the forefront of the company’s operations. As Alvotech is in the process of transitioning from a research and development-focused company into a fully integrated commercial enterprise, sustainability remains an integral part of Alvotech's mission. The company's pipeline of around 12 products in various stages of development offers a broad exposure to the fast growing biosimilar market.

SUSTAINABILITY

Alvotech is committed to the promise of biosimilars, which we believe can directly expand patient access to medicines globally and contribute to the overall sustainability of healthcare systems by providing lower cost alternatives to high-priced biologic medicines. This mission driven focus provides a strong basis for our corporate sustainability initiatives. We are committed to implementing a strong Environmental, Social, and Governance framework at Alvotech.

We aim to bring our portfolio and pipeline of biosimilars and biosimilar candidates to the global marketplace through our commercial partners around the world. Alvotech is in the process of transitioning from an R&D-only company into an integrated commercial stage enterprise. As we scale our production and commercialize globally, it is important that our ESG framework evolves accordingly. A strong ESG framework can help mitigate risks and identify opportunities and strengthen the relationship we have with our stakeholders.

Environmental Policy: We are committed to understanding and mitigating our impact on the natural environment. From our home-base and manufacturing hub in Reykjavik, Iceland, we can leverage the country’s abundant renewable natural resources, including clean water and renewable hydro- and geothermal energy that power a dedicated grid and supplies local industry and homes. This allows us to balance the growth of our operations and prosperity of our stakeholders, with the overarching objective of sustainability.

As a global company, we believe that our impact on the environment correlates strongly with our long-term success and value as an enterprise. We are committed to minimizing the impact we have on natural resources and climate change and recognize that this commitment starts with understanding our contribution through our energy use and CO2 emissions and continues with our dedication to mitigate the energy intensity and emissions intensity of our operations.

Environmental Sustainability Targets:

As part of our environmental strategy ,Circular for Zero, we have set the target, that all offices and laboratories will source renewable power by 2030.
Environmental management: We aim to have zero environmental impact across our value chain. This work is organized across the company and in our environmental management system.
Energy consumption: Reducing energy consumption and ensuring that we transition to renewable energy are top priorities.
Water consumption: Every year we use billions of liters of water. All our production sites are certified according to ISO14001. his means we are committed to continuous improvements, which also includes optimizing water use.
Waste: We distribute hundreds of millions of vials and injection pens to people who need them – and the need for our life-saving treatments is growing. Our products are made of high-quality materials, but after use, most of them end up in landfill.
CO2 emissions: As a global company, we must think beyond our own operations when considering our environmental impact. Today, our supply chain accounts for the vast majority of our total CO2 emissions.

ALVOTECH

ABOUT THE COMPANY

SUSTAINABILITY