Alvotech (ALVO) Jefferies London Healthcare Conference 2025 summary

Strategic positioning and partnerships

• Operates in over 90 countries with 20 commercial partners, leveraging a global partnership model to access regional market leaders.

• Invested $2 billion in a state-of-the-art manufacturing facility in Reykjavík, with additional R&D and packaging acquisitions in Sweden and Switzerland to improve cost structure and lead times.

• Transitioning from 2-3 to 4-6 programs annually, enabled by in-house capabilities and recent acquisitions.

• Key partners include Teva (U.S.), JAMP (Canada), STADA and Advanz (Europe), and Dr. Reddy's (Europe/U.S.).

Product portfolio and market growth

• Currently markets biosimilar Humira (Simlandi) and Stelara, with Simlandi becoming the second largest biosimilar in the U.S. by market share since its 2024 launch.

• U.S. biosimilar Humira market has reached 50% conversion, with further volume growth expected.

• Stelara biosimilar launched in Q2, with 25% market conversion expected to grow to 70% over time.

• Four new products (Prolex, Jiva, Symphony, Eylea) are set for launch, expanding the portfolio from two to six products.

• Eylea and Symphony have approvals in Japan, U.K., and Europe, with U.S. launches planned for 2025-2026.

Regulatory and operational updates

• Recent U.K. court win against Regeneron supports Eylea's market entry.

• Received a CRL from the FDA for Symphony due to facility observations, not product deficiencies; 95% of remediation steps completed, with facility status unchanged and ongoing supply of other products.

• Confident in resolving FDA queries and maintaining roadmap to be first to market with Symphony in the U.S. in 2025.