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Privately Held Alvogen Announces Favorable Ruling on Patents Related to the Company’s Proposed Generic to Xifaxan® for IBS-D
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MORRISTOWN, N.J.--(BUSINESS WIRE)--
Alvogen, a privately held pharmaceutical company focused on developing, manufacturing and selling generic and branded products, announced today a favorable district court ruling on multiple patents related to the company’s proposed generic to Xifaxan®, a treatment for irritable bowel syndrome with diarrhea (IBS-D) in adults.
“We are extremely pleased with the district court’s decision, which brings us one step closer to bringing a more affordable alternative to patients taking Xifaxan for IBS-D,” said Robert Wessman, Chairman of Alvogen.
Mr. Wessman is also the founder and serves as Executive Chairman of Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide.
About Alvogen
Alvogen is a privately held pharmaceutical company focused on developing, manufacturing and selling generic and branded products for the US market. The company has a diverse portfolio and pipeline that includes both branded and generic products across various dosage forms. The Alvogen-family of companies and include Alvogen US (Generics), Almatica (Brands) and Almaject (Injectables).
alvotech was founded in 2013, with the clear mission to become a global leader in biogenerics, defined as differentiated, high-quality, cost-controlled biosimilars. we have pursued this goal by creating a fully-integrated specialty company in control of every value adding development step from cell line development to commercial manufacturing of the product. our in-house development and manufacturing platform located at four sites across europe drives timely development of a strong and differentiated portfolio, while our state-of-the-art flexible manufacturing facility, located in reykjavik iceland, ensures high quality and cost-effective production. we are passionate about what we have created and our stated purpose of transforming access to life-altering therapies for patients across the globe. we believe in focus and specialization and each of our 250 professionals share our passion and pride to be part of this mission. we are dedicated to making people's lives better by improving a
