04:27 AM EDT, 03/20/2025 (MT Newswires) -- Alvotech ( ALVO ) said Thursday it is acquiring Xbrane Biopharma's R&D operations and biosimilar candidate XB003 for about 275 million Swedish krona ($27.2 million).

The acquisition, which is expected to close in April, includes Xbrane's R&D operations in Campus Solna, Sweden. Xbrane will retain other pre-clinical assets.

Alvotech ( ALVO ) also said it plans to explore a potential listing of Swedish depository receipts on Nasdaq Stockholm in the future.