Alvotech SA

Alvotech operates as a global biopharmaceutical company, which engages in developing and manufacturing biosimilar medicines through its subsidiaries. The firm's pipeline contains biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, and cancer. The company was founded on August 23, 2021 and is headquartered in Luxembourg.

Earnings data Q3 2022

Earnings data Q4 2022

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Earnings data Q2 2023

Earnings data Q3 2023

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Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Alvotech reports robust Q1 earnings, eyes biosimilar market leadership

Alvotech's Q1 2024 earnings call highlighted strong financial performance, progress in commercializing biosimilars, and a positive outlook for revenue growth in 2024. The company's focus on interchangeability, exclusive agreements, and expanding its product pipeline positions it well for future success in the biosimilars market.

Alvotech reports stellar revenue growth and strategic financing moves

Alvotech's strong financial performance, focus on biosimilars, and strategic financing decisions underscore its growth trajectory. Challenges in maintaining margins and meeting EBITDA targets exist, but opportunities from new applications and revenue mix diversification are promising.

Alvotech reports robust Q3 earnings, eyes growth amid profitability challenges

Alvotech's Q3 2024 earnings call showcased strong financial performance, with total revenues reaching $339 million for the first 9 months.
The company reported positive operating profit and adjusted EBITDA for the second consecutive quarter, driven by product revenue growth and margin improvement.
Guidance for 2024 revenue remains at $400 million to $500 million, with a focus on operational execution and maximizing launches for continued success.

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Alvotech is a biotechnology company, which engages in the development and manufacture of biosimilar medicines. The firm is focusing on the development of its product candidates. It operates through the following geographical segments: Europe, North America, Asia, and Other. The company was founded by Róbert Vilhelm Wessman in 2013 and is headquartered in Luxembourg.

The mean of analysts' price targets for Alvotech (ALVO) points to a 39.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe Alvotech (ALVO) Could Rally 39.83%: Here's is How to Trade

Here is how Alvotech (ALVO) and Twist Bioscience (TWST) have performed compared to their sector so far this year.

Is Alvotech (ALVO) Stock Outpacing Its Medical Peers This Year?

Alvotech focuses on biosimilars, aiming to lower healthcare costs amid rising drug prices and regulatory pressure against price hikes. Alvotech's aggressive market expansion shows promise with significant revenue growth and strategic product rollouts, despite a leveraged balance sheet. A diverse pipeline targeting high-value biologics and recent regulatory milestones position Alvotech for significant market impact in the biosimilar sector.

Alvotech's Position In The Coming Biosimilar Gold Rush

Alvotech (NASDAQ:ALVO ) Q3 2024 Earnings Conference Call November 14, 2024 8:00 AM ET Company Participants Benedikt Stefansson - Senior Director, Investor Relations and Global Communications Robert Wessman - Chairman and Chief Executive Officer Anil Okay - Chief Commercial Officer Joel Morales - Chief Financial Officer Ming Li - Chief Strategy Officer Conference Call Participants Balaji Prasad - Barclays Niall Alexander - Deutsche Bank Carl Byrnes - Northland Capital Markets Operator Good day, and thank you for standing by. Welcome to the Alvotech's Third Quarter 2024 Earnings Conference Call.

Alvotech (ALVO) Q3 2024 Earnings Call Transcript

Alvotech (ALVO) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.15 per share. This compares to loss of $0.82 per share a year ago.

Alvotech (ALVO) Q3 Earnings and Revenues Beat Estimates

Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced today its participation in Citi's 2024 Global Healthcare Conference in Miami, Florida on December 4, 2024, and in Evercore's HealthCONx Conference in Coral Gables, Florida on December 5, 2024. Members of the management team will host one-on-one meetings at both conferences. Alvotech will also hold a fire-side chat at Evercore's HealthCONx Conference on Thursday, December 5, 2024 starting at 12:55 ET (17:55 GMT).

Alvotech Attending Citi's Global Healthcare Conference on December 4, 2024, and Evercore's HealthCONx Conference on December 5, 2024

Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the European Medicines Agency (EMA) has accepted a Marketing Authorization Application for AVT05, Alvotech's proposed biosimilar to Simponi® (golimumab),  a biologic used to treat several chronic inflammatory diseases. This is believed to be the first marketing authorization application filing announced globally for a biosimilar candidate to Simponi. The approvals process is anticipated to be completed in the fourth quarter of 2025. "This is a welcome milestone for us, our partners, patients and caregivers, as we take one step closer to being able to offer access to biosimilar Simponi®," said Joseph McClellan, Chief Scientific Officer of Alvotech. “We believe having the capability and know-how inhouse to utilize a host cell line and process also used to manufacture the reference biologic, has given us an important head start in developing a biosimilar candidate to Simponi®." “The EMA's acceptance of the application for AVT05 represents a significant step forward in expanding treatment options for patients with chronic inflammatory diseases across Europe,” said Nick Warwick, Chief Medical Officer of Advanz Pharma. “We are committed to improving patient access to high-quality biologic medicines.” Alvotech and Advanz Pharma first announced in February 2023 that the companies had entered into a commercialization agreement, for AVT23, a proposed biosimilar to Xolair® (omalizumab). In May this year, the partners announced an expansion of the strategic partnership, to include five additional biosimilar candidates being developed by Alvotech, AVT05, AVT16 a proposed biosimilar to Entyvio® (vedolizumab) and three additional early-stage biosimilar candidates which remain undisclosed. In April 2024 Alvotech announced positive top-line results from a confirmatory clinical study comparing efficacy, safety, and immunogenicity between AVT05 and Simponi® in patients with moderate to severe rheumatoid arthritis. In November 2023, Alvotech announced positive topline results from a pharmacokinetic study which assessed the pharmacokinetics, safety, and tolerability of AVT05 compared to Simponi® in healthy adult participants.

European Medicines Agency Confirms Acceptance of Marketing Authorization Application for AVT05, a Proposed Biosimilar to Simponi® (golimumab)

REYKJAVIK, Iceland, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced today its participation in the Jefferies London Healthcare Conference, November 19-20, 2024. Members of the management team will host one-on-one meetings on both days. Alvotech will be presenting at the conference on Tuesday, November 19, 2024 at 9:00-9:25 am GMT.

Alvotech Meeting Investors and Presenting at the Jefferies 2024 London Healthcare Conference on November 19–20, 2024

Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced today that the European Medicines Agency (EMA) has accepted a Marketing Authorization Application for AVT03, a proposed biosimilar candidate to Prolia® and Xgeva® (denosumab).

European Medicines Agency Confirms Acceptance of Marketing Application for AVT03, a Proposed Biosimilar to Prolia® and Xgeva®

Shares of Alvotech (ALVO, Financial) surged 3.77% in mid-day trading on Oct 2. The stock reached an intraday high of $12.50, before settling at $12.40, up from its previous close of $11.95.

Alvotech (ALVO) Shares Up 3.77% on Oct 2

Alvotech (NASDAQ: ALVO), a global biotech company specialized in the development and manufacture of biosimilar medicines for patients worldwide, announced today the initiation of a confirmatory patient study for AVT16, a biosimilar candidate to Entyvio® (vedolizumab). The objective of the study is to demonstrate comparative efficacy, safety, and immunogenicity of AVT16 and Entyvio, in male and female participants 18-80 years old with moderate to severe active Ulcerative Colitis. Alvotech is one of two companies known to have initiated a global or multi-country confirmatory patient study for a biosimilar candidate to Entyvio.

Alvotech Initiates Confirmatory Patient Study for AVT16, a Proposed Biosimilar to Entyvio®

Alvotech (NASDAQ: ALVO), a global biotech company specialized in the development and manufacture of biosimilar medicines for patients worldwide, announces its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York.  Members of the management team will hold an in-person fireside chat on September 5, 2024, starting at 5:35 pm EDT (21:35 GMT).

Alvotech to Participate in the Morgan Stanley 22nd Annual Global Healthcare Conference

Alvotech offers exposure to the biosimilar industry at a cheaper price compared to other generic drug manufacturers. The company has successfully commercialized two biosimilar drugs - Stelara and Humira - with more in the pipeline. The company announced Q2 earnings on August 16th, with record revenues of $235.6 million and quarterly EBITDA of $102 million.

Alvotech: Steady Progress Offers A Good Chance Of Upside

Alvotech (NASDAQ:ALVO ) Q2 2024 Earnings Conference Call August 16, 2024 8:00 AM ET Company Participants Benedikt Stefansson - Senior Director, Investor Relations and Global Communications Robert Wessman - Founder, Chairman and Chief Executive Officer Anil Okay - Chief Commercial Officer Joel Morales - Chief Financial Officer Conference Call Participants Carl Byrnes - Northland Capital Markets Kirsty Ross Stewart - Citi Operator Good day, and thank you for standing by. Welcome to the Alvotech's Q2 2024 Earnings Conference Call.

Alvotech (ALVO) Q2 2024 Earnings Call Transcript

Alvotech (NASDAQ: ALVO, or the “Company”), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today reported unaudited financial results for the first six months of 2024 and provided a summary of recent corporate highlights.

Alvotech Reports Record Revenues and Adjusted EBITDA for the Second Quarter and First Six Months of 2024

REYKJAVIK, Iceland and LONDON, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the European Medicines Agency (EMA) has accepted a Marketing Authorization Application for AVT06, Alvotech's proposed biosimilar to Eylea® (aflibercept). The process to obtain marketing authorization could be completed in the third quarter of 2025.

European Medicines Agency Confirms Acceptance of Marketing Application for AVT06, a Proposed Biosimilar to Eylea® (aflibercept)

REYKJAVIK, Iceland, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specialized in the development and manufacture of biosimilar medicines for patients worldwide, will release financial results for first half of the year ended June 30, 2024, after U.S. markets close on Thursday, August 15, 2024, and will conduct a conference call with analysts to present the financial results and recent business highlights on Friday August 16, 2024, at 8:00 am EDT (12 noon GMT).

Alvotech to Report Financial Results for the First Half of 2024 on August 15, 2024, and Host Conference Call on August 16, 2024, at 8:00 am ET

STADA and Alvotech launch Uzpruvo, the first approved ustekinumab biosimilar to Stelara, across Europe Launch of European-made Uzpruvo in Europe comes immediately upon expiry of exclusivity rights for the molecule used to treat certain conditions in gastroenterology1, dermatology and rheumatology Creates competition at earliest opportunity, enabling straightforward switching to broaden patient access and control costs in a growing market, with accessible indications currently estimated at approximately €2.4 billion Ustekinumab is the second immunology biosimilar brought to market through the partnership between STADA and Alvotech, following the 2022 launch of the Hukyndra high-concentration adalimumab brand Bad Vilbel, Germany and Reykjavik, Iceland – 22 July 2024 –STADA and Alvotech have launched Uzpruvo®, the first approved biosimilar to Stelara® in Europe, across a majority of European countries. This includes the largest markets in the region, where pricing and reimbursement approvals have been secured for market entry.

STADA and Alvotech launch Uzpruvo, the first approved ustekinumab biosimilar to Stelara, across Europe

REYKJAVIK, Iceland, July 11, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the closing of its previously announced senior secured first lien term loan facility (the “Facility”). The closing has allowed Alvotech to refinance outstanding debt obligations, reduce the cost of capital and improve its overall debt maturity profile.

Alvotech Announces Closing of Private Debt Financing

REYKJAVIK, Iceland, July 01, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today issued new shares to holders of subordinated convertible bonds, originally issued by Alvotech on November 16, 2022, and December 20, 2022, with maturity on December 20, 2025 (the “Convertible Bonds”).

Alvotech Issues New Shares to Holders of Convertible Bonds

REYKJAVIK, Iceland, July 01, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced certain preliminary, unaudited key financial information for the second quarter and six months ended June 30, 2024, as follows:

Alvotech Announces Record Preliminary Results for Revenues and EBITDA for the Second Quarter of 2024

REYKJAVIK, Iceland , June 26, 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 holders of the majority of subordinated convertible bonds, originally issued by Alvotech on November 16, 2022, and December 20, 2022, respectively, with maturity on December 20, 2025 (the “Convertible Bonds”) have elected to convert the principal and accrued interest into ordinary shares of Alvotech at the fixed conversion price of US$10.00 per share on the last scheduled conversion date prior to maturity, which is July 1, 2024 (the “Conversion Date”).

Alvotech Receives Conversion Notices for Majority of Convertible Bonds

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Are Medical Stocks Lagging Alvotech (ALVO) This Year?

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Here's Why You Should Consider Buying Alvotech (ALVO) Stock

REYKJAVIK, Iceland and LONDON, June 18, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the companies have entered into an exclusive partnership agreement regarding the supply and commercialization of Alvotech's proposed biosimilar to Eylea® (aflibercept). Alvotech is currently developing AVT06, a proposed biosimilar to Eylea® low dose (2 mg) and AVT29, a biosimilar candidate for Eylea® high dose (8 mg).

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