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Alvotech Ordinary Shares - ALVO STOCK NEWS

Welcome to our dedicated page for Alvotech Ordinary Shares news (Ticker: ALVO), a resource for investors and traders seeking the latest updates and insights on Alvotech Ordinary Shares stock.

Alvotech (NASDAQ: ALVO) is a global biopharmaceutical company specializing in the development and manufacturing of high-quality biosimilar medicines aimed at enhancing patient access to affordable treatments worldwide. Established in 2013, the company has committed itself to becoming a leader in biogenerics, focusing on the creation of cost-effective biosimilars that meet stringent quality standards. Alvotech operates through a fully integrated model, addressing every step from cell line development to commercial manufacturing.

Alvotech's headquarters in Reykjavik, Iceland hosts a state-of-the-art flexible manufacturing facility that underscores the company's commitment to high-quality and efficient production. The company's portfolio includes biosimilars for autoimmune disorders, eye conditions, osteoporosis, respiratory diseases, and cancer. Alvotech has successfully launched two biosimilars and is actively working on nine more candidates.

In recent developments, Alvotech announced positive top-line results for AVT05, a proposed biosimilar to Simponi® and Simponi Aria®, and has received FDA approval for AVT04, a biosimilar to Stelara®. The company is also advancing in its U.S. strategic partnership with Teva Pharmaceuticals for the high-concentration interchangeable biosimilar to Humira®, marketed under Quallent’s private label. Financially, Alvotech reported increased revenues of $37 million in Q1 2024 and strengthened its position with a strategic refinancing transaction led by GoldenTree Asset Management, enhancing its financial flexibility and reducing upcoming debt maturities.

Alvotech's global reach is bolstered by strategic commercial partnerships with renowned pharmaceutical companies like Teva, STADA Arzneimittel AG, Fuji Pharma Co., Ltd., and many others. These collaborations extend across the United States, Europe, Japan, China, and several other regions, leveraging local expertise to provide expansive market access.

For more information on Alvotech and to stay updated with the latest news, visit www.alvotech.com.

News

Alvotech Reports Financial Results for Full Year 2023 and Provides a Business Update

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Alvotech (ALVO) reports a 10% increase in total revenues in 2023, reaching $93.4 million, with product revenues soaring to $48.7 million. Key highlights include FDA approval of Simlandi™ biosimilar to Humira®, launch of Jamteki™ biosimilar to Stelara®, and positive results from clinical studies for proposed biosimilars.
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The ONE Group Hospitality, Inc. to Host Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast at 4:30 PM ET on March 14, 2024

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Alvotech (ALVO) announces the sale of 10,127,132 ordinary shares to investors for approximately USD 166 million. The transaction, valued at USD 16.41 per share, aims to strengthen the company's production capacity and support expected biosimilars launches.
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Alvotech Announces Webcast of Full Year 2023 Financial Results on March 21, 2024, at 8:00 am ET

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Alvotech, a global biotech company, will release financial results for the full year 2023 and host a Capital Markets Day in Reykjavik on March 22, 2024. The company specializes in biosimilar medicines development and manufacture for patients worldwide.
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Alvotech Appoints Interim Chief Quality Officer

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Alvotech appoints Christina Siniscalchi as interim Chief Quality Officer, succeeding Sandra Casaca, to lead quality team after FDA facility inspection for biosimilar approval.
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Alvotech Accepts Offer for the Sale of Shares for a value of approximately USD 166 million at a Purchase price of USD 16.41 (ISK 2,250) per Share

Rhea-AI Summary
Alvotech, a biotech company, accepted an offer from investors to sell 10,127,132 ordinary shares for USD 166 million. The transaction is at a purchase price of USD 16.41 per share, aiming to use the proceeds for corporate purposes, production capacity, and biosimilar launches.
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Alvotech and Teva Announce U.S. Approval of SIMLANDI® (adalimumab-ryvk) injection, the first interchangeable high-concentration, citrate-free biosimilar to Humira®

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The FDA has approved SIMLANDI (adalimumab-ryvk) as an interchangeable biosimilar to Humira for various arthritis conditions and other diseases in the U.S., marking a significant milestone in Alvotech and Teva's strategic partnership. SIMLANDI is the first high-concentration, citrate-free biosimilar to Humira with interchangeable exclusivity for the 40mg/0.4ml injection. The approval is based on a comprehensive clinical development program, positioning SIMLANDI to offer cost savings and additional treatment options for patients in the U.S.
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Alvotech Announces Expected Global Market Entry Dates for AVT04 Biosimilar to Stelara® (ustekinumab)

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Alvotech (ALVO) settles with Johnson & Johnson for AVT04 biosimilar to Stelara in Japan, Canada, and EEA. Market approvals granted, pending in the U.S. Launch dates set for various global markets. Commercial partners named for different regions.
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Alvotech Announces Positive Top-Line Results from a Pharmacokinetic Study for AVT03, a Proposed Biosimilar for Prolia® and Xgeva®

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Alvotech (NASDAQ: ALVO) announced positive top-line results from a pharmacokinetic (PK) study for AVT03, a biosimilar candidate to Prolia® and Xgeva®. The study assessed the pharmacokinetics, safety, and tolerability of AVT03 compared to Prolia® in healthy adult subjects, meeting its primary endpoints. Prolia® and Xgeva® are indicated for the treatment of bone disease, with combined net revenues worldwide from sales of Prolia and Xgeva over US$6 billion in the last twelve months before September 30, 2023.
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Alvotech Provides Update on Status of Biologics License Applications for AVT02 and AVT04

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Alvotech (ALVO) announces the conclusion of the FDA reinspection of its facility in Iceland, receiving a form 483 with one observation. The company expects to provide a response to the FDA soon and aims to receive approval for AVT02 and AVT04 by February 24, 2024, and April 16, 2024, respectively.
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Alvotech Provides Update on Status of Biologics License Applications for AVT02 and AVT04

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Alvotech (ALVO) has announced the conclusion of the FDA reinspection of its facility in Iceland, receiving a form 483 with one observation. The company expects to provide a response to the FDA shortly and anticipates approval for AVT02 and AVT04 in the U.S. by February 24, 2024, and April 16, 2024, respectively.
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FAQ

What is the current stock price of Alvotech Ordinary Shares (ALVO)?

The current stock price of Alvotech Ordinary Shares (ALVO) is $11.91 as of December 20, 2024.

What is the market cap of Alvotech Ordinary Shares (ALVO)?

The market cap of Alvotech Ordinary Shares (ALVO) is approximately 3.7B.

What does Alvotech specialize in?

Alvotech specializes in the development and manufacturing of high-quality biosimilar medicines aimed at making treatments more affordable and accessible globally.

Where is Alvotech headquartered?

Alvotech is headquartered in Reykjavik, Iceland.

What are some recent achievements of Alvotech?

Recently, Alvotech announced positive top-line results for its AVT05 biosimilar and received FDA approval for AVT04, a biosimilar to Stelara. The company also secured a strategic refinancing transaction led by GoldenTree Asset Management.

Who are Alvotech's key commercial partners?

Alvotech's key commercial partners include Teva Pharmaceuticals, STADA Arzneimittel AG, Fuji Pharma Co., Ltd., and Cipla among others, extending its market reach across the U.S., Europe, Japan, China, and more.

How does Alvotech ensure high-quality production?

Alvotech ensures high-quality production through its state-of-the-art flexible manufacturing facility located in Reykjavik, Iceland, and a fully integrated model addressing every step from cell line development to commercial manufacturing.

What is the financial outlook for Alvotech in 2024?

Alvotech has raised its revenue guidance for 2024 to $400-$500 million and tightened its guidance for EBITDA to $100-$150 million, driven by rapid progress in commercialization and development.

What are biosimilars?

Biosimilars are biologic medical products highly similar to already approved reference products, offering comparable quality, safety, and efficacy at a lower cost.

What diseases do Alvotech's biosimilars target?

Alvotech's biosimilars target autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and various cancers.

How does Alvotech contribute to global healthcare?

Alvotech contributes to global healthcare by developing cost-effective biosimilar medicines, increasing access to life-altering therapies, and forming strategic partnerships to maximize global reach.

Where can I find more information about Alvotech's investor relations?

More information about Alvotech's investor relations can be found on their investor portal at https://investors.alvotech.com.

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Alvotech Ordinary Shares

Nasdaq:ALVO

ALVO Rankings

#1505 Ranked by Market Cap
N/A Ranked by Dividends

ALVO Stock Data

3.65B
104.58M
64.01%
6.04%
0.03%
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