Alvotech to acquire R&D operations of Xbrane for SEK275m.

Alvotech, a biotech company specializing in the development and manufacture of biosimilar medicines, agreed to acquire R&D operations of Xbrane, a biopharmaceutical company specialized in high demand biosimilars and long acting injectables, for SEK275m. "This acquisition will further expand Alvotech's development capacity, allowing our commercial network of 19 leading commercial partners worldwide to continue increasing patient access to quality biologics. Furthermore, we will establish a strong presence for Alvotech in the Swedish life science sector," Robert Wessman, founder, Alvotech Chairman and CEO.