ALVO

Alvotech

A maker of biosimilar medicines, Alvotech develops lower-cost copies of expensive biologic drugs used to treat illnesses like arthritis and eye disease. Founded in 2013 in Reykjavík, Iceland, by serial pharma entrepreneur Róbert Wessman—the same man behind generics firm Alvogen—the company was built to handle every step from cell lines to manufacturing under one roof. Its name blends "Alvogen" with "tech," and in 2022 it became the first Icelandic firm listed on both a US and Icelandic stock exchange.