“It is a great pleasure to welcome Balaji onboard not only as a new member of the team, but one who has closely followed our growth and the evolution of our business and product pipeline,” says Róbert Wessman, chairman and CEO of Alvotech. “He will be able to hit the ground running, helping to advance the business with his own expertise at the interface of medicine and therapeutics, and through his excellent relationships across the investment community.”

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Xbrane in agreement to sell biosimilar candidate and parts of its organization to Alvotech

Xbrane Biopharma has entered into an agreement to sell XB003 (biosimilar candidate to Cimzia) and parts of its organization, including approximately 40 employees and laboratory equipment, to Alvotech for a total consideration of approximately SEK 275 million.


Balaji V. Prasad

A medical doctor by training, Dr. Prasad has 25 years’ experience in the pharmaceutical industry, first as a consultant and subsequently as a financial and equities analyst focused on the specialty pharma and healthcare sectors.

He was most recently a director and highly ranked equities analyst at Barclays, covering US specialty pharma and with Alvotech in his portfolio. He served previously as portfolio manager at a Swiss asset management firm focusing on global specialty pharma and generics and led Barclays’ and Goldman Sachs’ India healthcare coverage from Mumbai. He earned his MD from Bangalore Medical College and MBA from IIM Ahmedabad.

“As a doctor and analyst of this space, I believe that biosimilars are key to delivering many of the amazing medicines that exist today to all of the people who need them. Alvotech is an incredibly exciting and focused business, and I will be putting my all into communicating the value of what we are doing to our growing circle of stakeholders in the US and globally – so we can deliver for patients and investors alike. I aim to bring my diverse experience across multiple continents and network encompassing the pharmaceutical, asset management and investment banking industries to drive Alvotech’s goal of expanding affordable biologics globally,” says Prasad.