Alvotech Added to Nasdaq Biotech Index Effective Monday December 23, 2024
Alvotech (NASDAQ: ALVO) announced its addition to the Nasdaq Biotechnology Index (NBI), effective December 23, 2024, as part of the index's annual reconstitution. The inclusion reflects Alvotech's meeting of eligibility requirements, including minimum market capitalization and average daily trading volume criteria. The NBI comprises Nasdaq-listed companies classified as Biotechnology or Pharmaceuticals according to the Industry Classification Benchmark and is calculated using a modified capitalization-weighted methodology.
Alvotech (NASDAQ: ALVO) ha annunciato la sua inclusione nell'Indice Biotecnologico Nasdaq (NBI), a partire dal 23 dicembre 2024, come parte della ricostituzione annuale dell'indice. L'inclusione riflette il soddisfacimento da parte di Alvotech dei requisiti di idoneità, inclusi i criteri di capitalizzazione di mercato minima e volume medio di scambi giornalieri. L'NBI comprende le aziende quotate al Nasdaq classificate come Biotecnologia o Farmaceutici secondo l'Industry Classification Benchmark ed è calcolato utilizzando una metodologia ad capitalizzazione ponderata modificata.
Alvotech (NASDAQ: ALVO) anunció su inclusión en el Índice de Biotecnología del Nasdaq (NBI), efectivo a partir del 23 de diciembre de 2024, como parte de la reconstitución anual del índice. La inclusión refleja el cumplimiento por parte de Alvotech de los requisitos de elegibilidad, incluyendo la capitalización de mercado mínima y el volumen promedio de comercio diario. El NBI comprende las empresas cotizadas en el Nasdaq clasificadas como Biotecnología o Farmacéuticos según el Industry Classification Benchmark y se calcula utilizando una metodología de capitalización ponderada modificada.
Alvotech (NASDAQ: ALVO)는 나스닥 생명공학 지수(NBI)에 2024년 12월 23일부터 포함될 것이라고 발표했습니다. 이는 지수의 연례 재구성의 일환입니다. 이 포함은 Alvotech가 시장 자본 최소 요건 및 평균 일일 거래량 기준을 충족했음을 반영합니다. NBI는 산업 분류 기준에 따라 생명공학 또는 제약으로 분류된 나스닥 상장 기업들로 구성되어 있으며, 수정된 자본화 가중 방법론을 사용하여 계산됩니다.
Alvotech (NASDAQ: ALVO) a annoncé son inclusion dans le Nasdaq Biotechnology Index (NBI), effective à partir du 23 décembre 2024, dans le cadre de la reconstitution annuelle de l'indice. L'inclusion reflète que Alvotech satisfait aux exigences d'éligibilité, y compris la capitalisation boursière minimale et les critères de volume moyen de transactions quotidiennes. Le NBI comprend les entreprises cotées au Nasdaq classées comme Biotechnologie ou Pharmaceutiques selon l'Industry Classification Benchmark et est calculé selon une méthodologie de pondération par capitalisation modifiée.
Alvotech (NASDAQ: ALVO) hat seine Aufnahme in den Nasdaq Biotechnologie-Index (NBI) angekündigt, die am 23. Dezember 2024 wirksam wird, im Rahmen der jährlichen Rekonstitution des Index. Die Aufnahme spiegelt wider, dass Alvotech die Zulassungsvoraussetzungen erfüllt, einschließlich der Mindestmarktkapitalisierung und des durchschnittlichen täglichen Handelsvolumens. Der NBI umfasst an der Nasdaq gelistete Unternehmen, die laut dem Industry Classification Benchmark als Biotechnologie oder Pharmazeutika klassifiziert sind, und wird nach einer modifizierten kapitalisierungsgewichteten Methodik berechnet.
- Addition to Nasdaq Biotechnology Index increases visibility to institutional investors
- Company meets NBI's market capitalization and trading volume requirements
- Potential for increased trading liquidity through index fund inclusion
- None.
Insights
The addition to the Nasdaq Biotech Index (NBI) has moderate significance but direct financial impact. While inclusion in the NBI can increase passive fund inflows due to index-tracking ETFs and mutual funds needing to purchase ALVO shares, the effect is typically modest compared to inclusion in broader indices like the S&P 500. With a market cap of
The key benefit lies in enhanced visibility and validation within the biotech sector. Institutional investors often use the NBI as a screening tool for potential investments, which could lead to increased analyst coverage and trading volumes. However, the fundamental business operations and biosimilar development pipeline remain unchanged by this index inclusion. Trading volumes may see a temporary spike around the rebalancing date as index funds adjust their positions.
- Addition is part of the annual reconstitution of the Nasdaq Biotech Index (NBI)
- Inclusion criteria include minimum market capitalization and daily trading volumes
REYKJAVIK, Iceland, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that its stock will be added to the Nasdaq Biotechnology Index (NASDAQ: NBI). The addition comes as a part of the annual reconstitution of the index. Alvotech’s inclusion in the NBI will be effective when the U.S. market opens on Monday, December 23, 2024.
The Nasdaq Biotechnology Index contains securities of Nasdaq-listed companies classified according to the Industry Classification Benchmark as either Biotechnology or Pharmaceuticals. The Nasdaq Biotechnology Index is calculated under a modified capitalization-weighted methodology. Companies in the Nasdaq Biotechnology Index must meet various eligibility requirements, including minimum market capitalization and average daily trading volume, among other criteria. Nasdaq selects new constituents of the NBI once annually, in December.
About Alvotech
Alvotech is a biotech 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. Two biosimilars, to Humira® (adalimumab) and Stelara® (ustekinumab) are already approved and marketed in multiple global markets. 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. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Dr. Reddy’s (EEA, UK and US), Biogaran (FR), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners. 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.
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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 generally relate to future events or the future financial operating performance of Alvotech and may include, for example, Alvotech’s expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, results, level of activities, performance, goals or achievements or other future events, regulatory submissions, review and interactions, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, and market launches. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “aim” or “continue”, or the negatives of these terms or variations of them or similar terminology. 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: (1) the ability to maintain criteria for inclusion in stock market indexes; (2) the ability to maintain stock exchange listing standards; (3) changes in applicable laws or regulations; (4) the possibility that Alvotech may be adversely affected by other economic, business, and/or competitive factors; (5) Alvotech’s estimates of expenses and profitability; (6) Alvotech’s ability to develop, manufacture and commercialize the products and product candidates in its pipeline; (7) actions of regulatory authorities, which may affect the initiation, timing and progress of clinical studies or future regulatory approvals or marketing authorizations; (8) the ability of Alvotech or its partners to respond to inspection findings and resolve deficiencies to the satisfaction of the regulators; (9) the ability of Alvotech or its partners to enroll and retain patients in clinical studies; (10) the ability of Alvotech or its partners to gain approval from regulators for planned clinical studies, study plans or sites; (11) the ability of Alvotech’s partners to conduct, supervise and monitor existing and potential future clinical studies, which may impact development timelines and plans; (12) Alvotech’s ability to obtain and maintain regulatory approval or authorizations of its products, including the timing or likelihood of expansion into additional markets or geographies; (13) the success of Alvotech’s current and future collaborations, joint ventures, partnerships or licensing arrangements; (14) Alvotech’s ability, and that of its commercial partners, to execute their commercialization strategy for approved products; (15) Alvotech’s ability to manufacture sufficient commercial supply of its approved products; (16) the outcome of ongoing and future litigation regarding Alvotech’s products and product candidates; (17) the impact of worsening macroeconomic conditions, including rising inflation and interest rates and general market conditions, conflicts in Ukraine, the Middle East and other global geopolitical tension, on the Company’s business, financial position, strategy and anticipated milestones; and (18) other risks and uncertainties 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. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. 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. The recipient agrees that it shall not seek to sue or otherwise hold Alvotech or any of its directors, officers, employees, affiliates, agents, advisors, or representatives liable in any respect for the provision of this communication, the information contained in this communication, or the omission of any information from this communication.
ALVOTECH INVESTOR RELATIONS AND GLOBAL COMMUNICATIONS
Benedikt Stefansson, VP
alvotech.ir@alvotech.com
FAQ
When will Alvotech (ALVO) be added to the Nasdaq Biotechnology Index?
What requirements did Alvotech (ALVO) meet for Nasdaq Biotechnology Index inclusion?
How often does the Nasdaq Biotechnology Index update its constituents?
What is the calculation methodology for the Nasdaq Biotechnology Index that ALVO is joining?
