Biotech Drug Production Facility to be Built in Iceland Skip to content

Biotech Drug Production Facility to be Built in Iceland

Alvotech, a sister company of the privately-owned U.S.-based Alvogen, has put forward an investment of USD 250 million for the construction of a 11,800 square meter facility for the development and manufacturing of biotech drugs in Iceland.

decode-lab-large_psPhoto: Páll Stefánsson/Iceland Review.

The facility, which will open in 2016, will also fund clinical trials of the group’s antibody drug copies, reuters news agency reports.

Icelandic entrepreneur and founder of Alvotech, Robert Wessman, who also heads Alvogen, said Iceland was a logical location for production because it is midway between the European and U.S. markets and had few patents.

ZR

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article

Facebook
Twitter

Recommended Posts