Alvotech (ALVO) Stock News

Alvotech (NASDAQ: ALVO) and Dr. Reddy's Laboratories have announced a strategic collaboration to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab), a major cancer treatment drug. The partnership leverages both companies' biosimilar expertise to accelerate development and expand global reach. Under the agreement, both parties will share development costs, manufacturing responsibilities, and commercialization rights globally. This collaboration targets a significant market opportunity, as Keytruda generated US$29.5 billion in worldwide sales in 2024. The partnership aims to increase the availability of cost-effective biologic medications for cancer treatment worldwide, with oncology being a key focus area for both companies.

Alvotech (NASDAQ: ALVO) has successfully completed a private placement of 7.5 million shares, comprising 5,833,500 SDRs and 1,666,500 ordinary shares, priced at SEK 100.00 per SDR and ISK 1320.83 per ordinary share. The placement raised SEK 750 million in gross proceeds, with strong interest primarily from Swedish and international investors outside Iceland. The funds will be used to scale up R&D efforts, particularly in Sweden following the Xbrane R&D operations acquisition, capitalize on growth opportunities, and for general corporate purposes. Settlement is expected around June 10, 2025. The company and its executives have agreed to lock-up periods of 180 days, while major shareholders have committed to 90-day lock-up periods.

Alvotech (NASDAQ: ALVO) announces plans to conduct a private placement of approximately 7.5 million Swedish Depository Receipts (SDRs) and ordinary shares, targeting Swedish and international institutional investors through an accelerated bookbuilding process. The offering will utilize existing treasury shares, with DNB Carnegie, Citi, SEB, and ACRO serving as Joint Bookrunners. The placement aims to strengthen Alvotech's shareholder base, particularly in Sweden following its recent Nasdaq Stockholm listing. Proceeds will fund R&D activities expansion, especially in Sweden after acquiring Xbrane's R&D operations. The company and insiders have agreed to lock-up periods ranging from 90-180 days post-settlement. Major shareholders Aztiq Pharma, Alvogen Lux, and Celtic Holdings II are maintaining their positions.

Alvotech (NASDAQ: ALVO) has completed its acquisition of Xbrane Biopharma AB's R&D organization in Sweden and its biosimilar candidate to Cimzia® (certolizumab pegol). The transaction, valued at approximately SEK 275 million (US$28.9 million), includes a cash payment of SEK 102.2 million, convertible debt assumption of SEK 152.75 million, and accounts payable assumption of SEK 20 million related to the biosimilar candidate. The acquisition, which received approval from Xbrane's Extraordinary General Meeting on April 14, 2025, aims to expand Alvotech's development capabilities and establish a strong presence in the Swedish life science sector.

Alvotech (NASDAQ: ALVO), a global biotech company focused on biosimilar medicines development, has announced its participation in the upcoming Jefferies Global Healthcare Conference 2025 in New York. The event will take place from June 3-5, 2025, where the company's management team will conduct one-on-one meetings. Dr. Balaji Prasad, Chief Strategy Officer, will deliver a business update presentation on June 5, 2025, from 10:30-11:00 am EDT. The presentation will be accessible via live video webcast on Alvotech's investor relations website, with a replay available for 90 days following the event.

Alvotech (NASDAQ: ALVO) and Advanz Pharma have expanded their strategic partnership to include three additional biosimilar candidates in Europe. The new agreement covers biosimilars to Ilaris® (canakinumab) for inflammatory diseases, Kesimpta® (ofatumumab) for multiple sclerosis, and an undisclosed candidate. The deal includes development and commercial milestones worth up to $180 million, plus revenue sharing. This expansion builds on their 2023 partnership covering eight other biosimilars. Alvotech will handle development and supply, while Advanz Pharma will manage registration and commercialization across the European Economic Area, UK, and Switzerland. The total addressable market for all partnered biosimilars in the covered regions is estimated at $13.8 billion.

Alvotech (ALVO) has announced its upcoming Annual General Meeting (AGM) scheduled for June 25, 2025, at 09:00 a.m. CEST. The meeting will take place at Arendt & Medernach's premises in Luxembourg. Shareholders can access the complete agenda and meeting materials through Alvotech's investor relations website. The company has provided a dedicated contact for investor relations inquiries through Benedikt Stefansson, VP.

Alvogen Lux Holdings S.ár.l., Alvotech's second-largest shareholder, has acquired 95,000 shares of Alvotech (ALVO) at ISK 1,260 per share on May 20, 2025. The transaction was reported to the Luxembourg Commission de Surveillance du Secteur Financier (CSSF). Alvogen Lux Holdings' ownership structure consists of CVC (40%), Aztiq (30%), and Temasek (20%) as its largest shareholders.

Alvotech (NASDAQ: ALVO) has signed an agreement with DNB Carnegie Investment Bank AB to provide liquidity services for its Swedish Depository Receipts (SDRs) trading on Nasdaq Stockholm. Starting May 20, 2025, DNB Carnegie will act as a liquidity provider, continuously quoting prices for Alvotech's SDRs in compliance with Nasdaq Stockholm's minimum requirements. The primary objective is to enhance SDR liquidity and minimize the spread between buying and selling prices.