Alvotech Acquires Xbrane’s R&D, Expanding Global Biosimilar Reach

Alvotech has announced its acquisition of Xbrane Biopharma’s R&D operations and biosimilar candidate XB003, expanding its development capabilities and establishing a Swedish base in Solna. The SEK 275 million ($27 million) deal includes Xbrane’s research team and facilities, while Xbrane retains pre-clinical assets and refocuses on commercializing its portfolio. Alvotech’s move strengthens its biosimilar pipeline, leveraging Sweden’s strong life sciences sector to enhance innovation and attract top talent.

Alvotech’s CEO Robert Wessman highlighted that the acquisition solidifies Alvotech’s position as a global biosimilar leader, adding to its state-of-the-art manufacturing site in Iceland. Meanwhile, Xbrane CEO Martin Åmark noted that the deal bolsters Xbrane’s financial strength, allowing it to focus on maximizing its existing assets, including Ximluci (Lucentis biosimilar) and Xdivane (Opdivo biosimilar). The deal, unanimously supported by Xbrane’s board, awaits shareholder approval in April 2025.