Alvotech Acquires Swiss Packaging Firm to Expand Capacity
Biotechnology firm Alvotech has acquired Switzerland-based Ivers-Lee Group to expand its assembly and packaging capabilities. The deal aims to support Alvotech's growth and meet increasing global demand for biosimilars.
Alvotech, a global biotechnology company focused on biosimilar medicines, announced the acquisition of Switzerland-based Ivers-Lee Group. The move is intended to expand Alvotech's assembly and packaging capacity, a critical step as the company prepares for new product launches and global market growth.
The acquisition integrates Ivers-Lee's operations into Alvotech's Technical Operations division. This integration is expected to provide added flexibility and capacity to meet the increasing worldwide demand for Alvotech's biosimilar products, especially with three new biosimilars slated for launch in 2025.
Ivers-Lee, founded in 1947, specializes in pharmaceutical assembly and packaging services, including autoinjectors, pre-filled syringes, and vial packaging. The company operates facilities in Burgdorf, Switzerland, and Lörrach, Germany. It will continue to serve its existing client base and offer contract manufacturing services.
Peter Schüpbach, Ivers-Lee's managing director and grandson of the founder, will remain in his role and join Alvotech's senior leadership team for Technical Operations. He stated the acquisition provides financial strength and development opportunities for Ivers-Lee and its employees.