Alvotech Completes Acquisition Of Xbrane R&D Organization And Biosimilar Candidate To Cimzia

Alvotech, a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, has completed its transaction with Xbrane Biopharma AB (“Xbrane”), with the acqusition of the R&D organization of Xbrane in Sweden and biosimilar candidate to Cimzia (certolizumab pegol). All regulatory conditions have been fulfilled.

The transaction, which was announced on March 20, 2025, and approved by Xbrane’s Extraordinary General Meeting on April 14, 2025, entails a total purchase price of approximately SEK 275 million (US$28,9M), consisting of:

• A cash payment of approximately SEK 102.2 million
• Assumption of convertible debt of approximately SEK 152.75 million
• Assumption of accounts payable related to the biosimilar candidate of approximately SEK 20 million

The acquisition will further expand Alvotech's development capacity and establish a strong presence in the Swedish life science sector.

About Alvotech
Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Two biosimilars, to Humira (adalimumab) and Stelara (ustekinumab) are already approved and marketed in multiple global markets. The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Dr. Reddy’s (EEA, UK and US), Biogaran (FR), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners. For more information, visit https://www.alvotech.com.