In 2018, ‘‘CCHT’’ and Alvotech.hf jointly invested 200 million US dollars and established a joint venture company named Alvotech & CCHT Biopharmaceutical Co., Ltd. (hereinafter referred to as ‘‘Alvotech & CCHT’’) to produce at least six ‘‘blockbuster’’ generic antibody drugs with annual sales of over 2 billion US dollars. The total future investment of the project is expected to exceed 300 million US dollars.