Alvotech (ALVO) Announces Acquisition of Ivers-Lee Group

Alvotech (NASDAQ:ALVO) is one of the best oversold NASDAQ stocks to buy now. On July 9, Alvotech (NASDAQ:ALVO) announced that it is expanding its capacity for assembly and packaging by acquiring Ivers-Lee Group, a family-owned Swiss company that specializes in high-quality pharmaceutical assembly and packaging services.

Although Ivers-Lee will continue existing as a separate legal entity, its operations will be integrated into Alvotech’s (NASDAQ:ALVO) Technical Operations division. The acquisition would, therefore, support Alvotech’s (NASDAQ:ALVO) ambitious growth plans, increasing its flexibility and capacity to meet the rising global demand for biosimilars.

Robert Wessman, founder, chairman, and CEO of Alvotech (NASDAQ:ALVO), stated that the company is preparing for the launch of three new biosimilars in 2025, along with sales growth in global markets, and that the acquisition would support these plans.

Alvotech (NASDAQ:ALVO) is a biotechnology company that develops and manufactures biosimilar medicines. Headquartered in Luxembourg, the company operates in the following geographical segments: Europe, North America, Asia, and Other.

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Disclosure: None. This article is originally published at Insider Monkey.