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Alvotech
Alvotech (ALVO) investor relations material
Alvotech SEB Nordic Seminar presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.SEB Nordic Seminar presentation summary8 Jan, 2026
Strategic vision and market opportunity
Mission centers on building a global biosimilar company to improve patient quality of life, with ~$2bn invested in platform and portfolio and a total addressable market exceeding $185bn.
Over 60 biosimilar launches achieved, with a vertically integrated infrastructure and global reach through 19 commercial partners in 90+ markets.
Biologics market is expanding rapidly, with 118 biologics expected to lose patent protection in the next decade and biosimilar units growing at 20% YoY globally.
US and EU account for 85% of the global biologics market, highlighting significant regional opportunities.
Financial performance and outlook
Total revenues grew 5x from 2023 to 2024, driven by the US launch of bHumira (AVT02) and early traction for bStelara (AVT04); 9M25 revenues reached $420m, up 24% YoY.
Gross margin at 59% in 9M25, with product margin at 27% and adjusted EBITDA of $68m (16% margin), impacted by temporary margin softness.
2025 revenues expected at $570-600m, with 2026 guidance of $650-700m and adjusted EBITDA of $180-220m, targeting cash flow positivity in Q4 2026.
Revenue growth supported by new product launches, licensing revenues, and expanded geographic reach.
Operational execution and pipeline
Robust R&D pipeline with 30 biosimilar candidates under development, including late-stage and early-stage assets across immunology, oncology, ophthalmology, and other therapeutic areas.
Recent approvals for AVT03, AVT05, and AVT06 in EEA, UK, and Japan, with launches in Europe and Japan expected in late 2025 and early 2026.
Strategic acquisitions of Xbrane's R&D operations and Ivers-Lee Group to expand R&D capacity and improve cost structure.
Continued investment in R&D, with $250m planned for 2026 to accelerate pipeline growth and maintain leadership in biosimilars.
Impact of FDA CRLs on 2026 US revenue forecast?
Detail COGS optimization initiatives
Reconcile 9M25 geographic revenue shift to US
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Next Alvotech earnings date
Q4 202519 Mar, 2026
Alvotech
Next Alvotech earnings date
Q4 202519 Mar, 2026
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Frequently asked questions
Alvotech is a biopharmaceutical company focused on developing and manufacturing high-quality biosimilar medicines. The company aims to improve patient health by increasing access to affordable biologic treatments. Alvotech specializes in biosimilars targeting therapeutic areas such as autoimmune diseases, eye disorders, osteoporosis, respiratory diseases, and cancer. Their pipeline includes a range of monoclonal antibodies aimed at treating various conditions within these areas. The company maintains a vertically integrated approach from cell line development through fill and finish manufacturing, which enhances their control, scale, and speed in bringing products to market. The company is headquartered in Luxembourg, and its shares are listed on the NASDAQ.
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