Alvotech (ALVO) 7th Annual Evercore ISI HealthCONx Conference summary

Global biosimilar partnerships and portfolio

• Maintains 19 global partners, with a major U.S. partnership and a broad international reach.

• Portfolio includes Humira, Stelara, Prolia, Xgeva, Simponi, Simponi Aria, and Eylea, with multiple launches across regions.

• Stelara launched in Europe, Canada, and Japan; U.S. launch set for February 2025.

• Three BLAs (Prolia, Xgeva, Simponi/Simponi Aria) submitted this year.

• Eylea biosimilar submitted, with European launch planned and U.S. entry dependent on IP strategy.

Market dynamics and product performance

• Humira biosimilar penetration in the U.S. is under 20%, with 13% market share supplied.

• Humira discounts exceed 80%, with biosimilar annual cost around $10,000.

• Product revenue guidance for the year is $400–$500 million, with 80% achieved by Q3.

• Q4 expected to be the largest revenue quarter due to significant Humira deliveries.

• Revenue includes both product and milestone payments from B2B agreements.

Launch cadence and future growth

• Multiple launches expected in 2025, with up to five products on the market by 2026.

• Order book for Humira at 1.3 million units, with expansion anticipated in 2025 and 2026.

• Product revenue and market share expected to grow as biosimilar adoption increases.

• Eylea biosimilar market in the U.S. has formed, with expectations for faster conversion than PBM-driven products.

• High-dose Eylea biosimilar development underway, aiming for expedited market entry.