Alvotech (ALVO) makes biosimilar versions of branded medicines that have gone off-patent. The year 2024 has been transformational for Alvotech as it marked a gradual transition of ALVO from an R&D company into a full-scale global commercial biologic company.The company recently gained approval for some key biosimilar products like AVT04, its biosimilar to J&J’s (JNJ) blockbuster immunology drug, Stelara, and AVT02, its biosimilar to AbbVie’s (ABBV) blockbuster immunology drug Humira. Alvotech has a commerci ...

Advanz Pharma secures rights to commercialize Alvotech’s biosimilar candidate for Eylea® in Europe Advanz Pharma will leverage its existing specialty and hospital capabilities in Europe to ensure successful market registration, commercialization, and patient access REYKJAVIK, Iceland and LONDON, June 18, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartere ...

Advanz Pharma secures rights to commercialize Alvotech's biosimilar candidate for Eylea® in Europe Advanz Pharma will leverage its existing specialty and hospital capabilities in Europe to ensure successful market registration, commercialization, and patient access REYKJAVIK, Iceland and LONDON, June 18, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ:ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered ...

STADA assumes marketing license for Alvotech’s proposed biosimilar referencing Prolia®/Xgeva® (denosumab) in Europe, including Switzerland and the UK, as well as rights in selected markets in Central Asia and the Middle EastThis partnership for the osteoporosis and cancer-related molecule builds on the two company’s existing strategic alliance in Europe. The first product launched through the alliance was Hukyndra®, a high-concentration biosimilar to Humira® (adalimumab)Extended alliance comes as the partne ...

STADA assumes marketing license for Alvotech’s proposed biosimilar referencing Prolia®/Xgeva® (denosumab) in Europe, including Switzerland and the UK, as well as rights in selected markets in Central Asia and the Middle EastThis partnership for the osteoporosis and cancer-related molecule builds on the two company’s existing strategic alliance in Europe. The first product launched through the alliance was Hukyndra®, a high-concentration biosimilar to Humira® (adalimumab) Extended alliance comes as the partn ...

STADA assumes marketing license for Alvotech's proposed biosimilar referencing Prolia®/Xgeva® (denosumab) in Europe, including Switzerland and the UK, as well as rights in selected markets in Central Asia and the Middle EastThis partnership for the osteoporosis and cancer-related molecule builds on the two company's existing strategic alliance in Europe. The first product launched through the alliance was Hukyndra®, a high-concentration biosimilar to Humira® (adalimumab)Extended alliance comes as the partne ...

REYKJAVIK, Iceland, June 07, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ:ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the successful arrangement of a strategic refinancing transaction. The financing, led by GoldenTree Asset Management, with participation from other institutional investors (collectively, the "Lenders"), will enable Alvotech (the "Company") to improve cost of capital, address upcoming debt maturit ...

REYKJAVIK, Iceland, June 07, 2024 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the successful arrangement of a strategic refinancing transaction. The financing, led by GoldenTree Asset Management, with participation from other institutional investors (collectively, the “Lenders”), will enable Alvotech (the “Company”) to improve cost of capital, address upcoming debt maturi ...

Company Overview - Teva Pharmaceuticals is a leading generic drug maker with a portfolio of 500 generic medications and its own branded drugs [2][3] - The company has a well-established global distribution network, ensuring medications reach a worldwide patient base [3] Opioid Litigation Settlement - Teva has settled 99% of its opioid litigation cases for a total of $4.25 billion, to be paid out over 13 years [4] - The settlement includes $1.25 billion allocated for its generic version of Narcan, an overdose reversal medicine [4] Financial Performance - In Q1 2024, Teva reported earnings per share (EPS) of 48 cents, missing consensus estimates by 3 cents [5] - Revenues grew 4.3% year-over-year to $3.82 billion, surpassing consensus estimates of $3.73 billion [5] - The generics business saw a revenue increase of 9% year-over-year across all regions [5] Key Product Growth - Teva's brand drug Austedo for Huntington's Disease saw a revenue increase of 67% year-over-year, with a forecast of around $1.5 billion for 2024 [5] - The migraine medication Ajovy experienced an 18% year-over-year revenue growth, reaching $113 million [5] - Teva received FDA approvals for Simlandi and Selarsdi, generic versions of Humira and Stelara, respectively [5][6] Market Position and Stock Performance - Teva's stock is currently forming a daily pennant pattern, indicating potential price movements [7] - The stock price is noted at $16.90, with a 52-week range between $7.09 and $17.13 [2][7] Alvotech Overview - Alvotech is a biopharmaceutical company producing biosimilar medications, including generic versions of Humira and Stelara [2][8] - The company reported Q1 2024 revenues of $37 million, more than doubling from $16 million in the previous year [8] - Alvotech raised its full-year revenue guidance to between $400 million and $500 million [8]

Company Overview - Alvotech is a biotech company focused on the development and manufacture of biosimilar medicines for patients worldwide [2] - The company aims to be a global leader in the biosimilar space by delivering high-quality, cost-effective products and services [2] - Alvotech's current pipeline includes eight biosimilar candidates targeting autoimmune disorders, eye disorders, osteoporosis, respiratory diseases, and cancer [2] Strategic Partnerships - Alvotech has established a network of strategic commercial partnerships to enhance its global reach and leverage local expertise [2] - Key commercial partners include Teva Pharmaceuticals, STADA Arzneimittel AG, Fuji Pharma Co., Ltd, and several others across various regions including the US, Europe, Japan, China, and parts of South America, Africa, and the Middle East [2] Upcoming Events - Alvotech will participate in the Jefferies Healthcare Conference in New York on June 5-6, 2024, where it will present and host investor and business meetings [1] - Anil Okay, Chief Business Officer, is scheduled to present on June 6, 2024, at 1:00 pm EDT, with a live audio webcast available on Alvotech's investor website [1]