Alvotech (NASDAQ: ALVO) names Lisa Graver CEO after transition

Rhea-AI Filing Summary

Alvotech is implementing a planned CEO succession in which founder Róbert Wessman will leave the Chief Executive Officer role at the end of the first quarter of 2026 and continue as full-time Executive Chairman. Lisa Graver, currently a board member and long-time colleague of Wessman, has been appointed to succeed him as CEO, with a transition process beginning immediately and her stepping down from the board once she assumes the role. The company highlights that its biosimilar platform now includes a pipeline of 30 products in development and five biosimilars already approved and marketed globally, underscoring the leadership change as part of the next phase of its growth.

Insights

Biotech governance and strategy analyst

Alvotech outlines an orderly CEO handover while keeping founder deeply involved.

Alvotech is executing a planned leadership transition with founder Róbert Wessman stepping down as Chief Executive Officer at the end of the first quarter of 2026 and remaining in a full-time role as Executive Chairman. He plans to focus on strategy, business development, portfolio direction, capital markets and corporate governance, which keeps continuity around long-term direction and external relationships.

Lisa Graver, a board member and former CEO of Alvogen, has been appointed to succeed him as CEO. The text emphasizes her more than 25 years of pharmaceutical leadership experience and a long working relationship with Wessman, suggesting familiarity with Alvotech’s strategy, operations and culture. The transition process begins immediately, with Graver collaborating with Wessman and the executive team over the coming months to support a smooth handover.

The leadership changes are framed against Alvotech’s current position: five biosimilar products already approved and marketed globally and a pipeline that includes 30 products in development, with nine disclosed biosimilar candidates across several therapeutic areas. This context indicates that the CEO succession is occurring as the company manages a broad commercial and development portfolio rather than during an early-stage or turnaround phase.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-41421

Alvotech
(Translation of registrant's name into English)

9, Rue de Bitbourg,
L-1273 Luxembourg,
Grand Duchy of Luxembourg
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

Incorporation by Reference

This Report on Form 6-K (this “Report”) of Alvotech (the “Company”) excluding Exhibit 99.1 attached hereto, shall be deemed to be incorporated by reference into the Company’s registration statements on Forms F-3 (File Nos. 333-266136, 333-273262, 333-275111 and 333-281684), the Company’s registration statement on Form F-3ASR (File No. 333-289006), and the Company’s registration statement on Form S-8 (File No. 333-266881) and to be a part thereof from the date on which this Report is filed, to the extent not superseded by documents or reports subsequently filed or furnished. Exhibit 99.1 to this Report is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Press Releases

On January 6, 2026, Alvotech issued a Press Release announcing that company founder Róbert Wessman will transition out of the CEO role at the end of the first quarter of 2026. He will continue to serve as Executive Chairman in a full-time capacity. Lisa Graver has been appointed as his successor as Chief Executive Officer. A copy of the Press Release is furnished herewith as exhibit 99.1.

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated January 6, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Alvotech
		(Registrant)
Date: January 6, 2026		/s/ Tanya Zharov
		Tanya Zharov
		General Counsel

EXHIBIT 99.1

Alvotech announces planned CEO succession and leadership transition

 - Róbert Wessman to continue serving as Executive Chairman in full-time capacity

- Lisa Graver appointed Chief Executive Officer

REYKJAVIK, Iceland, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced key senior leadership changes following a planned succession process. Founder Róbert Wessman, who has served as Chairman since the company’s inception in 2013 and Chief Executive Officer since 2023, will transition out of the CEO role at the end of the first quarter of 2026. He will continue to serve as Executive Chairman in a full-time capacity. Lisa Graver has been appointed as his successor as Chief Executive Officer.

“When I stepped into the CEO role at the beginning of 2023, it was with a clear objective to strengthen day-to-day leadership and position the company for its next phase. My intention was not to combine the roles of Chairman and CEO on a long-term basis, and the Board and I have been planning for a CEO succession accordingly for some time,” said Róbert Wessman.

“As we move into the next phase of the Company’s development, it is important that Alvotech’s leadership is based in Iceland alongside our core operations. Lisa has been a trusted partner to me for more than 20 years and brings deep leadership experience and understanding of this business. She has the full support of our Board to build on our strong foundations and lead Alvotech forward.”

“As Executive Chairman and the company’s largest shareholder, I am fully committed to Alvotech’s success and will focus on strategy, business development, portfolio direction, capital markets and corporate governance. We have built a world-class R&D and manufacturing platform, and a pipeline that currently includes 30 products in development and ranks among the most valuable in the industry. We now have five products on the market that are sold globally. I am hugely energised about the prospects for the business.”

“I am honored to have the opportunity to serve as Chief Executive Officer of Alvotech at this important stage of the company’s development,” said Lisa Graver. “Alvotech has built a differentiated platform, a clear strategy and a strong culture. Having spent considerable time in Iceland over the past 20 years, I am excited for this to be my new professional home base. I look forward to working closely with the leadership team and my colleagues across the organisation to continue executing on the company’s priorities and driving the next phase of growth.”

Ms Graver brings extensive leadership and operational experience within the global pharmaceuticals sector and has worked closely with Mr Wessman for more than two decades. She served as Chief Executive Officer of Alvogen until its acquisition by Lotus Pharmaceutical in December 2025, and as a member of Alvotech’s Board since its public listing in 2022.

The transition process will begin immediately, with Ms Graver working closely with Mr Wessman and the executive team over the coming months to ensure continuity and a smooth handover. Upon assuming the Chief Executive Officer role, she will step down from the Alvotech Board.

For further information, contact:

Media
Benedikt Stefansson
Sarah MacLeod
alvotech.media@alvotech.com

Investors
Balaji Prasad (US)
Patrik Ling (SE)
Benedikt Stefansson (IS)
alvotech.ir@alvotech.com

About Lisa Graver
Lisa Graver is an experienced pharmaceutical executive with more than 25 years of leadership experience across the specialized generics, biosimilars, and branded sectors. She has held senior executive roles spanning commercial, operational and strategic functions and most recently served as Chief Executive Officer of Alvogen, overseeing the company through its growth and subsequent acquisition by Lotus Pharmaceutical Co. Ms Graver has been a member of the Alvotech Board since 2022 and brings deep familiarity with the company’s strategy, operations and culture. Ms Graver holds an Honors BSc in Biology from Lakehead University and a law degree from Case Western Reserve University School of Law.

For a more detailed biography, click here

About Alvotech
Alvotech is a biotechnology company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira^® (adalimumab), Stelara^® (ustekinumab), Simponi^® (golimumab), Eylea^® (aflibercept) and Prolia^®/Xgeva^® (denosumab). The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. For more information, please visit https://www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.

For more information, please visit our investor portal, and our website or follow us on social media on LinkedIn, Facebook, Instagram and YouTube.

Alvotech Forward Looking Statements
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, for example, Alvotech’s expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, regulatory submissions, review and interactions, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, market launches and financial projections. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents that Alvotech may from time-to-time file or furnish with the SEC. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Alvotech does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication. Alvotech disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/95917c96-02d6-4bd7-ad71-09681369bc5f

FAQ

What leadership change does Alvotech (ALVO) announce in this Form 6-K?

Alvotech announces a planned CEO succession in which founder Róbert Wessman will transition out of the Chief Executive Officer role at the end of the first quarter of 2026, while continuing in a full-time role as Executive Chairman. Lisa Graver has been appointed as his successor as Chief Executive Officer.

Who is Lisa Graver, the incoming CEO of Alvotech (ALVO)?

Lisa Graver is an experienced pharmaceutical executive with more than 25 years of leadership experience across specialized generics, biosimilars and branded sectors. She most recently served as Chief Executive Officer of Alvogen until its acquisition by Lotus Pharmaceutical and has been a member of the Alvotech board since 2022, providing her with deep familiarity with the company’s strategy, operations and culture.

What role will founder Róbert Wessman have at Alvotech after stepping down as CEO?

After leaving the Chief Executive Officer role at the end of the first quarter of 2026, founder Róbert Wessman will continue as Executive Chairman in a full-time capacity. He plans to focus on strategy, business development, portfolio direction, capital markets and corporate governance while remaining the company’s largest shareholder.

When does the CEO transition at Alvotech (ALVO) take place and how will it be managed?

The transition process begins immediately, with Lisa Graver working closely with Róbert Wessman and the executive team over the coming months to ensure continuity and a smooth handover. Wessman will transition out of the CEO role at the end of the first quarter of 2026, and upon assuming the Chief Executive Officer role, Graver will step down from the Alvotech board.

What does the filing say about Alvotech’s current biosimilar portfolio and pipeline?

Alvotech states that it has built a world-class R&D and manufacturing platform with a pipeline that currently includes 30 products in development. The company notes that five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira, Stelara, Simponi, Eylea and Prolia/Xgeva, and that its current pipeline includes nine disclosed biosimilar candidates across several therapeutic areas.

What is Alvotech’s business focus as described in this communication?

Alvotech is described as a biotechnology company focused solely on the development and manufacture of biosimilar medicines for patients worldwide. The company seeks to be a global leader in biosimilars by delivering high-quality, cost-effective products and services through a fully integrated approach and broad in-house capabilities, supported by a network of strategic commercial partnerships across major global markets.