Alvotech(US:ALVO) Globenewswire·2025-12-16 16:48Core Viewpoint - Alvotech is launching a USD 100 million offering of senior unsecured convertible bonds to fund its ongoing investment in research and development, aiming to enhance its biosimilar product pipeline and production capacity [2][3]. Company Overview - Alvotech is a global biotech company focused exclusively on biosimilars, with a current development pipeline of 30 products and a significant investment of approximately USD 250 million planned for R&D in 2026 [2][6]. - The company aims to launch four new products globally in 2026, reinforcing its position in the biosimilar market [2][3]. Financial Guidance - Alvotech reaffirms its financial guidance for 2025, expecting total revenues between USD 570 million and USD 600 million, with adjusted EBITDA projected between USD 130 million and USD 150 million [6]. - For 2026, the company anticipates total revenues in the range of USD 650 million to USD 700 million, with adjusted EBITDA expected to increase to USD 180 million to USD 220 million [7]. Product Development and Market Strategy - Alvotech is optimistic about receiving FDA approvals for three products by late 2026, including biosimilars to Simponi® and Eylea® [7]. - The company has a strong order book for its biosimilars and is well-positioned for new product launches in global markets [4][5]. Offering Details - The offering consists of USD 100 million in senior unsecured convertible bonds, with a potential increase of USD 25 million, carrying a coupon rate between 6.375% and 6.875% [10]. - The bonds will be convertible into Swedish Depositary Receipts with a conversion premium of 25% to 30% over the reference share price [10]. Investment and Capital Strategy - Alvotech is committed to a substantial ongoing investment program, including R&D, manufacturing capacity, and global commercial readiness [8]. - The company may consider additional sources of capital to support its investment program and maintain financial flexibility [9].