Alvotech (ALVO) Jefferies London Healthcare Conference 2024 summary

Strategic vision and business model

• Focused exclusively on biosimilars since 2013, with a vision to become a global industry leader.

• Built a robust R&D and manufacturing platform, investing $1.9 billion to date.

• Operates a business-to-business model, licensing products globally and supplying partners.

• Signed commercial agreements generating over $1.5 billion in milestone revenues.

• Employs three revenue models: licensing with upfront payments, revenue share, and profit-sharing for private label deals.

Product pipeline and launches

• Portfolio includes 11 biosimilar products, with two already on the market and three more approvals expected in 2025.

• Achieved 50 launches for biosimilars to Humira and Stelara, with 100 approvals across 50 countries.

• Three new biosimilars (Simponi, Eylea, Xgeva/Prolia) filed in 2024, targeting late 2025 launches.

• Positioned as one of two competitors for Simponi and Entyvio biosimilars, aiming for early market entry.

• Advanced cell line development with 15 new cell lines, supporting future pipeline growth.

Operational scale and efficiency

• Manufacturing and R&D centralized in Iceland, with a workforce of around 1,000 from 63 nationalities.

• Tripled sales volume from 2023 to 2024 without increasing headcount, reflecting platform scalability.

• Streamlined quality systems and in-house production enable rapid response and supply reliability.

• Built full capacity before first product launch, ensuring readiness for pipeline expansion.

• No significant headcount increase expected despite higher production volumes in 2025.