Alvotech's Private Placement Completed with Delivery of SDRs and Shares to Investors

Core Insights - Alvotech has successfully completed a private placement aimed at Swedish and international institutional investors, with participation from approximately 40 institutional investors [1][2] - The placement saw about 60% of demand from investors based in Sweden, Norway, or the UK, and around 30% from US-based funds, indicating a strong interest from both European and American markets [1] - Over 80% of the shares and Swedish Depositary Receipts (SDRs) allocated were sold to new investors who were not previously shareholders in Alvotech, enhancing the company's shareholder base [1][2] Company Overview - Alvotech is a global biotech company focused on developing and manufacturing biosimilar medicines, aiming to lead the biosimilars industry with high-quality, cost-effective products [13] - The company has two approved biosimilars, targeting Humira® (adalimumab) and Stelara® (ustekinumab), and has a pipeline of nine disclosed biosimilar candidates for various diseases [13] - Alvotech has established strategic commercial partnerships across multiple regions, including the US, Europe, and Asia, to enhance its market reach and leverage local expertise [13] Shareholder Base and Market Impact - The recent private placement is expected to diversify and strengthen Alvotech's shareholder base, increasing the free float of SDRs on Nasdaq Stockholm, where approximately 8.5 million SDRs are already trading [2] - The transfer of 7.5 million treasury shares from Alvotech's subsidiary to the new investors has been completed, indicating a significant movement of shares within the market [3]