Acquisition will enhance the firm's development of high quality biosimilars
Eef Schimmelpennink, CEO of Alvotech
Alvotech, a developer of biopharmaceuticals, has entered into a definitive agreement to acquire Baliopharm, a German biopharmaceutical development company.
The acquisition provides Alvotech with complementary capabilities in the area of biosimilar development. Baliopharm will be fully integrated into the Alvotech organisation and will be rebranded as Alvotech Germany in the near future.
‘The acquisition of Baliopharm significantly strengthens our R&D platform, provides Alvotech with enhanced state-of-the-art development capabilities and brings key biosimilar expertise in house. This acquisition shows our dedication to be one of the global leaders in the high-growth biopharmaceutical industry,’ said Eef Schimmelpennink, CEO of Alvotech.
‘Alvotech and Baliopharm have worked closely together for the past two years and the company has been involved in Alvotech’s biosimilar programmes. We are convinced that the integration of Baliopharm’s extensive experience will prove crucial to Alvotech’s current platform and allow us to accelerate our programmes and be a key factor in bringing timely high quality biosimilars to market,’ he added.