Alvotech's pipeline firing on all cylinders

Summer has finally come to Iceland, and as the birds have returned and are busy hatching their chicks, at Alvotech we have been busy advancing our pipeline to keep important biosimilars advancing their way towards patients around the world. 

In June, we announced with our partner Dr Reddy's that we are together developing a biosimilar to Keytruda®, one of the world's most important cancer therapies. At the same time, the EMA has recommended approval of our Eylea® biosimilar, and we've had positive efficacy results on our biosimilar for Xolair.® On the commercialization front, we have partnered with Advanz to commercialize in Europe our biosimilar to Cimzia®, a widely-sed TNF-alpha inhibitor indicated for a variety of inflammatory diseases.

Finally, in the midst of all this operational progress, the holders of our long-term debt have agreed to lower our borrowing costs, which is a great show of confidence and will save us millions of dollars per year that we can put towards advance our therapies.