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Alvotech Completes US$28.9M Acquisition of Xbrane’s Swedish R&D Operations & Biosimilar Certolizumab Pegol

Jun 4, 2025

On 4 June 2025, Alvotech announced that it has completed the acquisition of Xbrane’s Swedish R&D operations, as well as XB003, biosimilar to UCB’s Cimzia® (certolizumab pegol), in a deal worth US$28.9m.  The deal was initially announced by Alvotech in March 2025, and was approved by Xbrane’s board on 14 April 2025.

The acquisition comes a week after Alvotech expanded its partnership with Advanz Pharma to cover three additional biosimilar candidates in Europe.  The products covered by the agreement are biosimilars to Novartis’ Ilaris® (canakinumab) and Kesimpta® (ofatumumab), and a third, undisclosed early-stage biosimilar.