Alvotech SA, a global biotech company, has announced the completion of its acquisition of Xbrane Biopharma AB's R&D organization in Sweden and a biosimilar candidate to Cimzia® (certolizumab pegol). This transaction, initially announced on March 20, 2025, and approved by Xbrane's Extraordinary General Meeting on April 14, 2025, was finalized after fulfilling all regulatory conditions. The acquisition, valued at approximately SEK 275 million (US$28.9 million), includes a cash payment, the assumption of convertible debt, and accounts payable related to the biosimilar candidate. This strategic move is expected to enhance Alvotech's development capacity and bolster its presence in the Swedish life science sector.
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