Privately Held Alvogen Announces Favorable Ruling on Patents Related to the Company’s Proposed Generic to Xifaxan® for IBS-D

Rhea-AI Summary

Alvogen announced a significant district court ruling in favor of its proposed generic version of Xifaxan®, a treatment for irritable bowel syndrome with diarrhea (IBS-D). This ruling advances Alvogen's goal of providing a more affordable alternative for patients. Robert Wessman, Chairman of Alvogen, expressed satisfaction with the decision, noting its importance in delivering accessible treatment options. Alvogen specializes in developing, manufacturing, and selling both generic and branded pharmaceutical products, and is committed to expanding its market presence.

Positive

• Favorable court ruling on patents for generic Xifaxan®.
• Advancement towards offering a more affordable IBS-D treatment.

Negative

• None.

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Alvogen, a privately held pharmaceutical company focused on developing, manufacturing and selling generic and branded products, announced today a favorable district court ruling on multiple patents related to the company’s proposed generic to Xifaxan®, a treatment for irritable bowel syndrome with diarrhea (IBS-D) in adults.

“We are extremely pleased with the district court’s decision, which brings us one step closer to bringing a more affordable alternative to patients taking Xifaxan for IBS-D,” said Robert Wessman, Chairman of Alvogen.

Mr. Wessman is also the founder and serves as Executive Chairman of Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide.

About Alvogen

Alvogen is a privately held pharmaceutical company focused on developing, manufacturing and selling generic and branded products for the US market. The company has a diverse portfolio and pipeline that includes both branded and generic products across various dosage forms. The Alvogen-family of companies and include Alvogen US (Generics), Almatica (Brands) and Almaject (Injectables).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005336/en/

Elisabet.Hjaltadottir@alvogen.com

Source: Alvogen

FAQ

What is the recent court ruling related to Alvogen and Xifaxan®?

Alvogen received a favorable district court ruling regarding multiple patents for its proposed generic version of Xifaxan®, a treatment for IBS-D.

How does this court ruling affect Alvogen's plans for Xifaxan®?

The ruling brings Alvogen closer to launching a more affordable alternative to Xifaxan® for patients with IBS-D.

Who is Robert Wessman in relation to Alvogen?

Robert Wessman is the Chairman of Alvogen and expressed optimism about the court ruling.

What is the stock symbol for Alvogen's parent company?

Alvogen's parent company, Alvotech, is listed under the stock symbol NASDAQ: ALVO.