Fuji Pharma Acquires Minority Stake in Alvotech

Alvotech announced Japan‐based Fuji Pharma has acquired a 4.2% stake in the business for approximately $50 million.

Alvotech and Fuji Pharma recently announced an exclusive agreement for development and commercialization of biosimilars in Japan.

Key shareholders in Alvotech following the transaction are Aztiq Pharma AB, which is the controlling shareholder led by Robert Wessman, generic pharmaceutical company Alvogen and Fuji Pharma.

Alvotech‘s current pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases, with first products expected to be brought to market by 2020.  Since its foundation in 2013, Alvotech has invested in a product pipeline and built a new biopharmaceutical facility in Reykjavik, Iceland. Development centers are based in Germany and Switzerland, and the company employees over 250 scientists.

“Alvotech has established itself as a fully integrated biopharmaceutical company, ranging from cell line development of biosimilars to manufacturing, clinical development and registrations,” Robert Wessman, founder of Alvotech, said. “I am delighted to welcome such a prestigious investor on board, who brings significant industry experience in the APAC region. I further welcome Mr. Hirofumi Imai who joins Alvotech’s Board of Directors and I look forward to working with him developing Alvotech in the near future.“

“Fuji Pharma is extremely pleased to become partner in the growth with Alvotech. At Fuji, we strongly believe in Alvotech’s one‐of‐a‐kind biologics development and scalable manufacturing capabilities,” Hirofumi Imai, Chairman of Fuji Pharma, said. “Our investment reflects the long‐term business collaboration that we are committed to. It is an honor for me to join the Board of Directors at Alvotech and I look forward to working with Mr. Wessman and other colleagues at Alvotech.”

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