Teva Pharmaceuticals, Alvotech Expand Their Existing Strategic Biosimilars Partnership
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Teva Pharmaceuticals has agreed to acquire subordinated convertible bonds issued by Alvotech for $40 million. The investment will be used by Alvotech for the continued development of its biosimilars pipeline.
July 24, 2023 | 8:07 am
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Teva's $40 million investment in Alvotech's convertible bonds could potentially enhance its stake in the biosimilars market.
Teva's investment in Alvotech's convertible bonds indicates a strategic move to strengthen its position in the biosimilars market. This could potentially lead to increased revenues and profitability for Teva in the future, positively impacting its stock price.
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