The biosimilars firm Alvotech (Nasdaq:ALVO) has announced that its CEO, Mark Levick, will retire. As of January 1, the company will install Robert Wessman, executive chairman and founder, as its top exec. Reykjavik, Iceland–based Alvotech also announced that it had retained Hafrun Fridriksdottir as its chief operating officer. Fridriksdottir was formerly the executive vice president…
AbbVie accuses Alvotech of stealing Humira trade secrets
In a complaint filed in Illinois federal court, AbbVie alleges that the Icelandic biopharma company Alvotech sought to copy its blockbuster biologic Humira (adalimumab). The lawsuit accuses Alvotech of hiring a former AbbVie employee, Rongzan Ho, to help it develop a copycat version of Humira. Ho, a team leader of upstream manufacturing for Humira, was…