Icelandic biosimilars specialist Alvotech has eased some of its liability to bondholders following a debt-to-equity conversion, at the same time as it improved terms and extended its maturity.
Alvotech’s creditors have expressed confidence in the fledgling business and strengthened its balance sheet, electing to convert a portion of debt into equity “at an exercise price that gives the company a pre-money valuation of $2.7bn.”
Through a private bond offering at the very end of 2018, the Icelandic biosimilars specialist raised $300m to further develop...
Melinta Therapeutics has prevailed at the Federal Circuit in a patent dispute over its reformulated intravenous antibiotic Minocin, with the appeals court upholding both infringement and validity and leaving Nexus Pharmaceuticals barred from launching a generic until 2031.
Mounjaro, Eliquis, and Darzalex buck the Q1 trend to make gains
