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Alvotech Launches $100 Million Senior Unsecured Convertible Bond Offering to Continue Strong Investment in R&D, Support Manufacturing, Global Product Launches and Enhance Liquidity Position, reaffirms 2025 outlook and provides 2026 guidance
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About this update from Alvotech
[{"type":"text","content":"THIS PRESS RELEASE MAY NOT BE DISTRIBUTED, RELEASED, OR PUBLISHED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE. REYKJAVIK, ICELAND (December 16, 2025) — Alvotech (NASDAQ: ALVO, the “Company”), a global biotech company dedicated exclusively to biosimilars, today announces the launch of an offering of USD 100 million senior unsecured convertible bonds due 2030 (the “Offering”). The Offering is being undertaken to continue significant investment in R&D of around USD 250 million in 2026. Alvotech is focused on continuous execution and progression of its R&D pipeline, currently consisting of 30 products under development and one of the most valuable portfolios of biosimilars in the industry. At the same time, Alvotech is scaling up its production capacity and the company´s supply chain with the goal of launching 4 new products globally for the year 2026. The execution of the Offering will allow Alvotech to continue on its journey and keep its lead in investment into biosimilar development, while at the same time working on its launch readiness into global markets. The company is reconfirming its financial guidance for 2025 and providing financial guidance for 2026. The guidance for 2026 takes into account the impact of any further FDA approval delays as a result of the CRL received for AVT05 (PFS/AI and vial presentations), biosimilars to Simponi® and Simponi Aria® and AVT06, a biosimilar to Eylea®. It also assumes a CRL may be received in Q4 2025 for AVT03, biosimilar to Prolia® and Xgeva®. Alvotech continues to work on its response to the FDA and remains optimistic that it will resolve the outstanding issues. Financial guidance for 2026 has also taken into account global launches of 3 new biosimilars into global markets, that are taking place during December 2025. Alvotech and its partners are in a lead position with AVT05 (bSimponi) and the company has a strong orderbook for AVT06 (bEylea). Outlook for 2025 and 2026 The Company continues to expect strong underlying operating performance ...