Eight years after its inception, pure-play biosimilars company Alvotech has announced plans to list on the NASDAQ via a SPAC merger that will deliver hundreds of millions in cash to fund product development and future growth.

Aztiq and Innobic aim to create a “powerful pharmaceuticals enterprise with global resources, networks and reach” after signing a definitive agreement to become the leading shareholders in Lotus Pharmaceutical and the sole shareholder in B2B firm Adalvo.

After an extraordinary year that saw demand patterns and the supply chain upended by the COVID-19 pandemic, as well as a major merger that has transformed one of the global off-patent industry’s biggest players, Generics Bulletin’s Top 50 has once again seen significant changes.

Torrent has reached a settlement with BMS’ Celgene over oncology blockbuster Revlimid, officials said during a Q2 call, but declined to disclose launch timelines for the generic. Meanwhile, the Indian company continues to evaluate an option to enter the injectables segment in the US as revenues slide.