It was neither an obvious nor an easy choice, in 2013, during a period when capital controls were being imposed, to base Alvotech in Iceland.
After a thorough examination of several locations, it was finally the management's decision to base the company in Iceland.
It is therefore extremely gratifying, seven years on, to double the size of the facilities in Iceland, establishing the foundation for the commercialization of its first biosimilars internationally.
A ground-breaking ceremony for the extension of Alvotech's high-tech centre in Reykjavík took place on 30 December 2020. Róbert Wessman, Chairman of the Board, Dagur B. Eggertsson, Mayor of Reykjavik and Jon Atli Benediktsson, Rector of the University of Iceland, took the first shovelling together with key employees who have been involved in the project.
The extension, which will be 12,500 m2, almost doubles Alvotech's current facilities in the University of Iceland's Science Park, and is expected to be completed by the end of 2022.
"It is a great delight to end this difficult year, which was marked by the combat against Covid-19 and its grave consequences, with such a positive step towards the future evolution of the company, " says Róbert Wessman.
Will house biosimilar development
The expansion of the centre is a continuation of a journey that began in 2013 with the establishment of Alvotech and shortly afterwards, the construction of the company's high-tech centre began in Reykjavik. The extension will house biosimilar development, drug refills, offices and warehouses, in addition to facilities, which the company will provide to the University of Iceland's Biotechnology Department, continuing the vigorous collaboration with the university. The facilities will enable the university to further strengthen the master's program in industrial biotechnology and provide more students with internships at the company.