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Meet Pharma Boss, Róbert Wessman, Founder of Alvotech

March 2, 2022
5 mins read
Róbert Wessman Founder of Alvotech
Róbert Wessman Founder of Alvotech

Robert Wessman is a Chairman & CEO of Alvogen and founder and Chairman of Alvotech.

Robert’s vision for his career was clear from the beginning: To improve people’s lives and increase access to affordable medication.

Wessman and his team have launched and scaled industry-leading generic pharmaceutical companies and biosimilar businesses around the globe to realize his vision.

Robert Wessman, along with investors and collaborators, founded Aztiq in 2009.

This company focuses on investing in the pharmaceutical and healthcare-related industries.

Alvogen, a generic pharmaceutical company, was also established by Wessman in 2009.

Alvogen has received numerous industry awards and recognitions, including multiple CPhI Company of the Year Awards and multiple service awards.

Alvogen was a contract manufacturer based in the USA. He became their CEO and Executive Chairman.

Robert started the biopharmaceutical firm Alvotech in 2013. Alvotech, a biopharmaceutical firm with integrated R&D API and fill-and finish capabilities, has brand-new state-of-the-art facilities.

Alvotech is developing biosimilars that will be released after patent expiry.

His growth strategies are based on his operational experience, industry knowledge, and the ability to create and develop industry-leading teams.

His companies have an average annual revenue growth rate exceeding 60% between 1999 and 2016.

He made over 50 strategic acquisitions and partnerships, and he has established operations in more than 60 countries.

Robert’s accomplishments have been the subject of three Harvard Business Studies titled “Robert Wessman, the Actavis Winning Formula (2008), and “Alvogen (2015).

Alvogen and Alvotech were proud to partner with UNICEF over many years.

They sponsored many programs under our Better Planet charity work. They have supported UNICEF’s COVAX global vaccination initiative, which is COVID-19.

What is the story of the Alvotech?

Although I have had a passion for medicine, business, and entrepreneurship, I desired that people would have easier access to affordable medication, which led to Alvogen’s founding in 2009.

When I met with investors to discuss my new pharma business model, I wrote down my napkins ideas.

I still have that napkin! My vision was to start my own biosimilars business, but I am also interested in prescription drugs and over-the-counter medications.

The right investors embraced my dream, and Alvogen, Lotus, and Alvotech have become successful today.

How do you stay productive?

Our company culture is focused on promoting a healthy lifestyle.

A typical day involves physical and mental activity and time with my family.

I love to exercise and sport, especially cycling. I try to make it a priority to exercise every day.

My work keeps me mentally active as I’m always busy running businesses in different time zones, including the US, Europe, and Asia.

My workday often begins when I wake up and ends when I sleep.

Five of my children live with me in London. I find it challenging to make time for them in my busy schedule.

My typical days are full of joy and satisfaction.

​How do you bring ideas to life?​

My work is enriched by a positive outlook that brings out my best.

My dyslexia was a problem from an early age.

This experience helped me become a solution-oriented person and believe in your ability to create your success.

While many people have brilliant ideas, very few can take action and make their dreams a reality.

This has never been a problem for me. Any good idea, regardless of its origin, whether it is mine, my family, or someone at work, I will execute to make it a reality.

What’s your favorite trend?

I enjoy anticipating trends, predicting how the world will change, and participating in that change.

Second, I love to build things. These two elements are evident in my work.

I have made many pharmaceutical companies over the years with great success.

All of these companies are following the current trend in the industry at all times.

Another thing that excites me is working with my wife on a project! We are involved in the France Wine Industry and love to improve the wine industry.

​What habits make you productive?

You have to pay attention to the details. Although I don’t have the luxury of being a leader in a large company, it leaves me the time and energy to pay attention to the details.

However, understanding the specific aspects of the business will help you find areas for improvement.

Leaders need vision and must know how to execute.

They also need to understand their people, numbers, and business.

I don’t dwell on the past, no matter what happens. We all go through difficult times in our companies.

It is essential to understand the reasons for the business’s decline.

The key is to keep your eyes on the solution and learn how to move forward.

What’s your advice for the Noob?

Do not wait to pursue what you are passionate about.

Although I didn’t decide to move into pharmaceuticals until I was 29, I knew that this was what I wanted.

What is one thing we can all agree on?

We have achieved this success through hard work and focus, a great team, and mainly because of the growth around Lotus and Adalvo.

Eight years ago, if you asked me what my opinion was on the market for business-to-business, I would have said that it would be best for us to enter this market. Most people around me thought I was crazy and disagreed with me.

​What do you recommend as an entrepreneur?

Keep your eyes on the essential things and keep your mind positive.

Don’t dwell on whether you made a mistake or someone else did. Instead, focus on what can be done to fix it and prevent another one from happening.

Listen to others and ask questions. Sometimes the answer to a problem can be found in just one question.

Make sure you surround yourself with trustworthy people and make sure the task is clearly defined. Execution is what matters.

What’s your rich strategy?

At the beginning of my career, I worked in cleaning, in bars, as a dishwasher, and even in the construction industry.

It was all about mindset. What can I do to make the most of this opportunity? What can I do to learn? What can I do to grow? This has been easy because I have worked with many great people.

However, it has always been crucial to getting the best out of every opportunity.

How do you overcome Failure?

In October 2008, I purchased shares in Glitnir, an Icelandic bank.

Within days, Icelandic financial crises hit. It was money I could have easily thrown in the sea.

Do I regret it? Yes. Would I have known the global financial system was headed for collapse? No. I am just glad I could stay and continue building from Iceland in the aftermath.

​Can you share a business idea?​

Biosimilars are an area of remarkable growth that I believe will flourish.

What’s your recent best buy? ​

Just before Christmas, my family had their PCR tests! Ksenia, my wife, and I shared our first Christmas since August 2021, when we got married.

We traveled to France to celebrate Christmas together this year, just before the border restrictions.

What are your favorite Softwares or Apps?

Since I don’t use many online tools, I think I’m a bit old-fashioned.

If I have a question and no one in the office can answer it, I will often use Google as my first resource.

Which book would you recommend?

Reading books is not something I enjoy reading. Although I am dyslexic, I still need to read lots every day.

I prefer to read the news and watch TV when I have a few minutes to relax and catch my breath.

​What’s your favorite quote?​

You can’t take no as an answer. Although we all have to face challenges in business, if you want your business to succeed, there is no way you can ignore them. It is not easy to run a successful business.

Don’t lose heart if you are determined to get something and believe it’s the right way.

It might be necessary to take another route to achieve the desired outcome, but keep your eyes on the prize and never give up.

Key Learnings:

  • Focus on your positive outlook at work and bring an optimistic attitude to the workplace. How can I make the most out of this opportunity? It all comes down to mindset.
  • You must be bold enough to take action on your ideas and realize your dreams. Do not wait to start!
  • It’s up to you to pay attention to the details. You need to make sure that you fully understand them.

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Enterprenuer is a social interview and story publishing platform for entrepreneurs, founders, businessmen, businesswomen, startups, and anyone who inspires people globally.

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