Alvotech went public via merger with Oaktree Acquisition II in a $2.25bn deal.

Alvotech, a global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, went public via merger with Oaktree Acquisition II, a special purpose acquisition company sponsored by an affiliate of Oaktree Capital, in a $2.25bn deal. The deal includes a $150m PIPE investment from Suvretta Capital, Athos, CVC Capital Partners, Temasek, Farallon Capital Management, Sculptor Capital Management, Arctica Finance, Arion Bank, and Landsbankinn. "We are delighted with this business combination and the long-term opportunities it will unlock for Alvotech. Through this important milestone, we believe that we are perfectly positioned to rapidly scale our portfolio with a like-minded partner who understands the intricacies of our business and our industry," Robert Wessman, Alvotech Chairman and Founder.