Alvotech Announces Changes to the Leadership Team

Alvotech (NASDAQ: ALVO, the “Company”), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced today that Faysal Kalmoua has been appointed Alvotech’s Chief Operating Officer and Hafrun Fridriksdottir is stepping down following resubmission of the Biologics License Application (BLA) for AVT02, Alvotech’s proposed high-concentration interchangeable biosimilar to Humira (adalimumab).

Faysal has served as Head of Portfolio and Project Management since earlier this year and as a member of Alvotech’s Board of Directors since 2020. Previously, he held various senior management positions at Alvogen and Synthon. He has a master’s degree in Chemistry from Radboud University Nijmegen and an executive MBA from Insead. 

“It is a great pleasure to welcome Faysal to the role of Chief Operating Officer, as he knows our operations and portfolio intimately,” said Robert Wessman, Chairman and CEO of Alvotech. “We were extremely grateful last year when Hafrún agreed to lend her extensive pharma industry experience to the Alvotech team, and her passion for operational excellence and quality will continue to be an inspiration for the entire team.”

“I am thrilled to take part in Alvotech’s remarkable journey,” said Faysal Kalmoua. “I look forward to continue working with the exceptionally talented and dedicated team assembled and contributing to the Company’s further development into a global leader in the biosimilars industry.”

About Alvotech
Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Alvotech’s current pipeline includes eight disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility