Alvotech develops and manufactures biosimilar medicines for global markets. Company news centers on its approved and marketed biosimilars to Humira, Stelara, Simponi, Eylea and Prolia/Xgeva, along with disclosed candidates for autoimmune disorders, eye disorders, osteoporosis, respiratory disease and cancer.
Recurring updates cover financial results, annual reporting, FDA interactions tied to the Reykjavik manufacturing facility, biosimilar study results such as AVT80, supply and commercialization partnerships, intellectual-property settlements, executive changes and manufacturing-platform developments. Alvotech also reports on global commercial reach through partners across the United States, Europe, Japan, China and other international markets.
Alvotech (ALVO) announced that its Chairman and CEO, Robert Wessman, has acquired 320,000 shares of the company at a price of ISK 1,255 per share. The transaction was executed at market opening and has been reported to the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) in accordance with regulatory requirements.
Alvotech (NASDAQ: ALVO), a global biotech company focused on biosimilar medicines, has announced plans to list Swedish Depository Receipts (SDRs) on Nasdaq Stockholm. The listing follows Alvotech's acquisition of Xbrane Biopharma's R&D operations and aims to expand its investor base in Nordic and European markets. The offering includes 441,600 SDRs with an estimated gross proceeds of SEK 30 million, with each SDR representing one share.
The offering price will be set at the lower of the volume-weighted average price or closing price of Alvotech shares on Nasdaq Iceland during the application period (May 9-16, 2025), with a 10% discount and capped at SEK 90 per SDR. Trading is expected to commence on May 19, 2025, under the ticker "ALVO SDB". Existing shareholders will have a one-year free conversion period to convert their shares into SDRs.
Alvotech (NASDAQ: ALVO), a global biotech company specializing in biosimilar medicines, has announced that potential U.S. tariffs on imported pharmaceuticals should have minimal impact on its 2025 product revenues. The company, which manufactures its biosimilars in Iceland, faces a minimum 10% tariff on U.S. imports. This tariff would increase costs for U.S. customers by less than 1% of Alvotech's expected 2025 product revenues.
According to contracted terms, customers are responsible for transport costs and import duties, not Alvotech. CEO Robert Wessman noted that Iceland's favorable trade balance with the U.S. makes higher tariffs unlikely, and emphasized that biosimilars remain the most cost-effective way to increase patient access to vital biologics. Beyond 2025, even with anticipated product launches and increased sales, the tariff impact would still represent a low single-digit percentage of total product revenues.
Alvotech (NASDAQ: ALVO), a global biotech company focused on biosimilar medicines development, has scheduled its first quarter 2025 financial results announcement. The company will release its Q1 2025 results after U.S. markets close on Wednesday, May 7, 2025.
A conference call with analysts to discuss financial results and recent business highlights will be held on Thursday, May 8, 2025, at 8:00 am EDT (12:00 noon GMT, 14:00 CET). The event will be accessible via webcast through Alvotech's investor website, with a 90-day replay period available after the presentation.
Alvotech (NASDAQ: ALVO), a global biotech company focused on biosimilar medicines development, has scheduled its first quarter 2025 financial results announcement. The company will release its Q1 2025 results after U.S. markets close on May 7, 2025, followed by an analyst conference call on May 8, 2025, at 8:00 am EDT (14:00 CET).
The conference call will be accessible via webcast to media, investors, and the public through Alvotech's investor website. The webcast recording will remain available for replay for 90 days after the event.
Alvotech (NASDAQ: ALVO), a global biotech company focused on biosimilar medicines development, has appointed Dr. Balaji V. Prasad as Chief Strategy Officer. Dr. Prasad brings 25 years of pharmaceutical industry experience, combining medical expertise with financial analysis background.
Most recently serving as a director and equities analyst at Barclays, Dr. Prasad covered US specialty pharma with Alvotech in his portfolio. His previous roles include portfolio manager at a Swiss asset management firm and leadership positions at Barclays and Goldman Sachs India healthcare coverage. He holds an MD from Bangalore Medical College and MBA from IIM Ahmedabad.
Alvotech (NASDAQ: ALVO) reported exceptional financial results for 2024, with total revenues reaching $492 million, a 427% increase year-over-year. Product revenues surged 462% to $273 million, while the company achieved positive Adjusted EBITDA of $108.3 million, compared to negative $291 million in 2023.
Key highlights include the successful submission and acceptance of three new proposed biosimilars in major global markets, the launch of SELARSDI™ (ustekinumab-aekn) in the U.S., and the acquisition of XBrane's R&D operations. The company reported an operating profit of $69.6 million, marking a significant improvement from the previous year's loss of $354.9 million.
Despite strong operational performance, Alvotech recorded a net loss of $231.9 million ($0.87 per share) for 2024, primarily due to finance costs and debt refinancing impacts. The company ended the year with $51.4 million in cash and cash equivalents.
Alvotech (NASDAQ: ALVO), along with Kashiv Biosciences and Advanz Pharma, announced that the UK Medicines and Healthcare Products Regulatory Agency (MHRA) has accepted their marketing application for AVT23, a proposed biosimilar to Xolair® (omalizumab).
The biosimilar is intended for treating severe persistent allergic asthma and chronic rhinosinusitis with nasal polyps. The original drug, Xolair, generated global sales of approximately $4.4 billion in 2024.
This development follows strategic partnerships formed in 2023, including a commercialization agreement between Alvotech and Advanz Pharma for AVT23 in February, an expanded partnership in May covering five additional biosimilar candidates, and a licensing agreement between Alvotech and Kashiv in October.