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

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MORRISTOWN, N.J.– 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.