Pharmaceuticals, Biotechnology and Life Sciences
Alvotech has named Tanya Zharov as deputy chief executive officer in Iceland to oversee Icelandic operations and administration, including the Reykjavik site leadership team, human resources, business operations, shared services and facilities.
Alvotech said in a Monday press release it has appointed Joseph Edward McClellan as its new Chief Scientific Officer, who will be leading the company’s R&D functions, with overall responsibility for bringing products to market through its pipeline and overseeing R&D operations across Alvotech’s sites in Reykjavik, Julich, Hanover and Zurich.
Alvotech has enrolled the first patient to test its Humira biosimilar candidate in Alvopad PS, in a Phase III clinical study (ALVOPAD PS), for adult patients with moderate to severe chronic plaque psoriasis.
Alvotech has raised $300 million through a private bond offering to fuel continued growth, refinance of existing debt and the further development of Alvotech’s biosimilar assets.
Japan-based Fuji Pharma has acquired a 4.2% stake in the biopharmaceutical company Alvotech for around $50 million.