Business
Alvotech Provides Update on Corporate Sustainability Framework
REYKJAVIK, Iceland, March 28, 2023 (GLOBE NEWSWIRE) -- Alvotech (Nasdaq: ALVO) (the “Company”), a global biotech company specializing in the development and
About this update from Alvotech
[{"type":"text","content":"REYKJAVIK, Iceland, March 28, 2023 (GLOBE NEWSWIRE) -- Alvotech (Nasdaq: ALVO) (the “Company”), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced an update to the Company’s Corporate Sustainability framework, including the release of key environmental, social and governance (“ESG”) indicators for 2022. “As part of our commitment to improve the sustainability of healthcare by providing access to more affordable biologic medicines, we recognize that corporate sustainability is closely linked to our long-term success and the value we may bring to patients, healthcare providers and all of our stakeholders,” said Robert Wessman, Founder, Chairman and CEO of Alvotech. Data on key ESG indicators for 2020-2022 can be found on Alvotech’s dedicated web portal. Alvotech’s Board of Directors has established a Corporate Sustainability Committee (CSC) to oversee the Company’s strategy as it relates to ESG matters. Alvotech’s corporate headquarters, purpose-built manufacturing facility and a large part of the Company’s R&D operations are located in Reykjavik, the capital of Iceland. All of the electrical power for the R&D and manufacturing operation is sourced from the local grid, and fully generated from renewable hydro and geothermal sources while heating is provided from renewable geothermal sources. Alvotech emphasizes gender equality and has received an annual equal pay certification from the Icelandic Directorate of Equality since 2021. While Alvotech’s equality policy is based on Icelandic law, it has been implemented globally for Alvotech employees, applying a company-wide career framework and equal pay standards uniformly. More information regarding the relationship between biosimilars and sustainability can be found here on Alvotech’s website. About AlvotechAlvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Alvotech’s current pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respirator...