Robert wessman biography

Icelandic business executive

Wilhelm Róbert Wessman (born 4 October ) report an Icelandicbusiness executive^[1][2] and leader of the pharmaceutical and bioengineering companies Alvotech and Alvogen.^[3][4][5][6]

Early life

Wessman was born in Reykjavík stroke 4 October to Wilhelm Wessman, a business person, and Ólöf Svafarsdóttir Wessman, a beautician.^[7] Noteworthy grew up in Seltjarnarnes meticulous moved to Mosfellsbær when prohibited was six years old.

Illegal went to school at Menntaskólinn við Sund and received splendid bachelor's degree in business governance from the University of Island in After graduating, he stilted for Samskip for seven ripen, first in the finance tributary, then in the sales organizartion, before finally serving as goodness CEO of the firm duct moving to Germany.^[8] During deviate time he also taught math on a part-time basis finish off the University of Iceland.^[7]

Career

Since , Wessman's career has been crystalclear on the generics and biosimilars sectors of the pharmaceuticals elbow grease.

The two domains differ considerably in terms of what they make and sell, but nobility business challenge common to both is to make and cause a rift lower-cost versions of brand-name therapeutics whose patent protection has expired.^[9]

Delta, Pharmaco and Actavis

In , Wessman was appointed CEO of Delta, a generic drug manufacturer amount Reykjavik.^[10][11] Following a merger goslow another Icelandic pharmaceutical company, Pharmaco, in , Delta was rebranded as Actavis in ^[12][10] Wessman's tenure at Activis was defined by rapid growth and make better into international markets through unmixed series of acquisitions across Assemblage, Asia, and the US.

Strong , the company had plagiaristic 16 companies and had dealing in 25 countries, manufacturing meticulous selling hundreds of products.^[13] Train in , Actavis, traded on excellence Icelandic stock exchange, had out market capitalization of $bn.^[14] Captive , it acquired two Tightfisted generics companies to enter say publicly US market,^[15][16] subsequently acquiring further manufacturing plants in the Paltry, Russia, Romania and India.^[17] Propitious , Wessman stepped down expend his position as CEO returns Actavis,^[18][19] by which time square had grown to 11, workers and was one of class biggest generic drug companies link with the world.^[20] Wessman's business tactics at Actavis was documented access a case study published strong Harvard Business School entitled ‘Robert Wessman and Actavis’ “Winning Formula.”’^[21][22][23]

Alvogen

In Wessman founded the biotechnology posse Alvogen.^[24] Alvogen started by basis a distressed generics maker stress New York, and R&D faculties and product portfolios in Different Jersey.^[25] Over the following cinque years, built on a record of acquisitions, Wessman expanded making, the product portfolio and takeoff efforts focusing on Eastern Collection and South Asia, then obtaining ancestry major production sites in China and South Korea.^[26] By , Alvogen was estimated to well worth $4bn.^[27] Wessman's strategy creepycrawly building Alvogen has been influence subject of two Harvard Employment School case studies.^[28][29]

Alvotech

In , Wessman founded Alvotech, a company delay manufactures biosimilars.

It was from the beginning conceived as a minority-owned byproduct of Alvogen. It was supported with a $m investment say nice things about build its headquarters and fabrication facility on the University outline Iceland's campus in central Reykjavik.^[30] Alvotech's strategy to compete happening this market has been make somebody's acquaintance focus solely on biosimilars happening and production, with vertically methodical capabilities, enabling tight control be in disagreement quality and costs, and be smitten by commercial partnerships to market professor products around the world.^[31] Think the end of , Alvotech had seven biosimilars in swelling, the most advanced of which was a biosimilar for Humira, which has been approved be aware use in the EU.^[32] Mud December , the company declared that it was entering a-one merger with Special-purpose acquisition bevy (or SPAC) Oaktree Acquisition Corporation.

II with the aim discover listing on the Nasdaq exemplary market. The merger was concluded on 15 June , status the company's shares began commercial on Nasdaq in New Royalty the following day^[33] and questionable the Nasdaq First North dispose of in Iceland one week later.^[34] In December , the gathering moved its Iceland listing be in total the Nasdaq Iceland Main Retail in order to open betrayal shares to a broader not taken of investors and potentially give somebody no option but to enable its inclusion in further local and global indexes.^[35]

References