What Alvotech does

Alvotech is a global biotechnology company that develops, manufactures, and commercializes biosimilar versions of high-cost biologic medicines. Founded in 2013 and headquartered in Reykjavík, Iceland, the company operates a vertically integrated platform spanning cell line development, analytical characterization, clinical development, regulatory submissions, single-use bioreactor manufacturing (in Reykjavik and Jülich, Germany), and fill/finish (via the acquired Ivers-Lee facility in Burgdorf, Switzerland). The portfolio is focused exclusively on monoclonal antibody biosimilars across immunology, ophthalmology, oncology, and bone health, with five approved products globally (AVT02 adalimumab, AVT04 ustekinumab, AVT03 denosumab, AVT05 golimumab, AVT06 aflibercept) and nine candidates in the pipeline. Alvotech is publicly listed on NASDAQ (ALVO) and trades Swedish Depositary Receipts on Nasdaq Stockholm.

The company monetizes its biosimilars through a hybrid model: direct sales to wholesalers, distributors, and pharmacies in the United States where Alvotech is the Marketing Authorization Holder (e.g., Simlandi for adalimumab, Selarsdi for ustekinumab), combined with regional commercialization partnerships covering most other geographies. Teva handles the United States and select markets for multiple programs; Sandoz distributes in Canada, Australia, and New Zealand; Advanz Pharma leads European commercialization (including the December 2025 launch of Gobivaz, the first-in-market Simponi biosimilar); and Dr. Reddy's handles selected programs. Revenue is also generated through licensing royalties, milestone payments, and supply agreements with these partners. End customers are healthcare providers, government health systems, payers, wholesalers, and pharmacies across the US, Europe, Japan, China, Latin America, Africa, and the Middle East.

Alvotech reported FY2025 revenue of approximately $593 million and is guiding $650–700 million for FY2026. The company has financed growth through a mix of equity, convertible bonds, and senior debt, with a $965M GoldenTree-led refinancing in June 2024 and multiple subsequent capital raises in 2025–2026. The business faces near-term execution risk: an FDA Complete Response Letter in November 2025 regarding the Reykjavik manufacturing facility has delayed AVT05, triggered securities litigation, and pressured the share price, while the late-stage pipeline (AVT05, AVT06, AVT16/AVT80) is central to the 2026–2027 growth thesis. A leadership transition in early 2026 — Lisa Graver replacing founder Róbert Wessman as CEO — accompanies the operational recalibration.

Name

Alvotech

Legal name

Alvotech hf

Website

https://alvotech.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Alvotech is a global biotechnology company that develops and manufactures biosimilar monoclonal antibodies for immunology, ophthalmology, oncology, and bone health, commercializing them through global partners (Teva, Sandoz, Advanz, Dr. Reddy's) and direct US sales, with five approved biosimilars and nine pipeline candidates.

Ownership category

akta.pro rank

Product category

Biosimilar Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Biosimilar Commercialization & Market Access (pricing, tendering, interchangeability, distribution) (HLAAAHAL)

akta.pro secondary industry

Specialty Pharma & Biologics Distribution (GDP-compliant) (HLAGAMAD)

Keywords

• Biosimilar medicines
• Monoclonal antibody development
• Biologics manufacturing
• Biopharmaceutical development
• Cell line engineering

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Biosimilar product sales: Revenue from the sale of approved biosimilars directly (where Alvotech is MAH) and through commercialization partners in multiple geographies. Includes AVT02 (adalimumab biosimilar) and other approved products.
2. Licensing royalties and milestone payments: Revenue from licensing, royalty, and milestone arrangements with commercial partners including Teva, Sandoz, Advanz Pharma, Dr. Reddy's, and Regeneron (settlement/licensing agreement). Includes upfront, milestone, and royalty components tied to development, regulatory, and commercial events.
3. Supply and commercialization agreements: Revenue generated through supply and commercialization agreements with regional partners covering defined territories (e.g., Sandoz for Canada/Australia/New Zealand; Advanz Pharma for Europe).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels3 records

Core offering

Alvotech develops, manufactures, and commercializes biosimilar medicines—biologic medicines that are highly similar to already-approved reference biologics—focused on monoclonal antibody therapies. The company operates a vertically integrated platform covering cell line development, process and analytical development, clinical studies, regulatory submissions, manufacturing, and fill/finish. It markets its products either directly in the US (where it is the Marketing Authorization Holder) or through regional commercialization partners (Teva, Sandoz, Advanz Pharma, Dr. Reddy's) across Europe, Canada, Australia, New Zealand, Japan, China, Latin America, Africa, and the Middle East.

Differentiator

Problem solved

Functional benefit

Brands

• Simlandi (adalimumab-ryvk): U.S. marketed biosimilar product for which Alvotech is the Marketing Authorization Holder in the U.S. (adalimumab biosimilar).
• Selarsdi (ustekinumab-aekn)
• Gobivaz

Products and services

• Simlandi (AVT02, adalimumab-ryvk) Biosimilar of Humira (adalimumab) for the treatment of immunology conditions including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis, plaque psoriasis, hidradenitis suppurativa, and uveitis. Marketed by Alvotech in the US.
• Selarsdi (AVT04, ustekinumab-aekn) Biosimilar of Stelara (ustekinumab) for the treatment of immunology conditions including plaque psoriasis, psoriatic arthritis, Crohn's disease, and ulcerative colitis. Marketed by Alvotech in the US.
• AVT03 (denosumab biosimilar)
• Gobivaz (AVT05, golimumab biosimilar) Biosimilar of Simponi (golimumab) for the treatment of inflammatory conditions including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis. Marketed as Gobivaz in Europe by Advanz Pharma; marketed in the US by Teva (as AVT05) following FDA approval.
• AVT06 (aflibercept biosimilar) Biosimilar of Eylea (aflibercept) for the treatment of ophthalmology conditions including neovascular (wet) age-related macular degeneration, diabetic macular edema, and other retinal disorders. Developed under partnership with Teva for US commercialization.
• AVT16 (vedolizumab biosimilar, proposed interchangeable) Proposed interchangeable biosimilar of Entyvio (vedolizumab) for the treatment of ulcerative colitis and Crohn's disease. Developed under partnership with Teva Pharmaceutical Industries, with Alvotech handling development and manufacturing.
• AVT80 (vedolizumab biosimilar, subcutaneous) Proposed subcutaneous biosimilar of Entyvio (vedolizumab) for the treatment of ulcerative colitis and Crohn's disease, complementing the intravenous AVT16 program. The successful PK study supports regulatory submissions for both products.

Quantifiable outcome

• $593M in revenue (2025 reference figure in source)
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• Teva Pharmaceutical IndustriesflagshipStrategic or Co-development PartnerTeva is Alvotech's strategic commercialization partner for multiple biosimilars (including AVT05, AVT06, AVT16 and others). The partnership covers US commercialization and select global markets and represents one of Alvotech's most important commercial relationships.
• SandozcoreChannel Partner/ Reseller/ DistributorSupply and commercialization agreement covering Canada, Australia, and New Zealand for Alvotech biosimilars. Sandoz distributes Alvotech's products in these regional markets under defined territory terms.
• Advanz PharmacoreChannel Partner/ Reseller/ DistributorEuropean commercialization partner for Gobivaz (golimumab biosimilar / Simponi biosimilar) and additional Alvotech biosimilars. Advanz Pharma leads the European launch and distribution of these products.
• Dr. Reddy's LaboratoriescoreStrategic or Co-development PartnerStrategic commercialization and co-development partner for AVT03 (denosumab biosimilar) and related biosimilar programs. The partnership supports Alvotech's reach into selected markets and shared development effort.
• RegeneroncoreOEM/ Whitelabel/ Licensing PartnerSettlement and licensing agreement related to AVT06 (Eylea / aflibercept biosimilar). Resolves patent dispute and enables Alvotech to develop and commercialize its aflibercept biosimilar under the terms of the agreement.
• Ivers-Lee (Burgdorf, Switzerland)minorImplementation/ SI/ Consulting PartnerAssembly and packaging partner supporting Alvotech's fill/finish operations at the Burgdorf, Switzerland site.
• GlycoThera GmbHminorStrategic or Co-development PartnerR&D subsidiary contributing to Alvotech's biosimilar research and development capabilities.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Samsung Bioepis: Samsung Bioepis is a biosimilars-focused biotech with an approved portfolio spanning immunology (adalimumab, etanercept), ophthalmology (ranibizumab), and oncology (trastuzumab, bevacizumab). It is a direct competitor in monoclonal antibody biosimilars with overlapping therapeutic-area focus and global commercialization partnerships.
• Celltrion: Celltrion is a South Korean biosimilars leader with approved products including infliximab (Remsima), rituximab (Truxima), trastuzumab (Herzuma), and adalimumab (Yuflyma). It is a direct competitor across immunology and oncology biosimilars with vertically integrated manufacturing and global commercial reach.
• Biocon Biologics: Biocon Biologics is a biosimilars-focused subsidiary of Biocon Limited with approved products including pegfilgrastim, trastuzumab, bevacizumab, and insulin glargine. It is a direct competitor in monoclonal antibody biosimilars with global commercial reach and active pipeline expansion.

Broad incumbents

• Sandoz: Sandoz is the global biosimilars and generics leader (Novartis spin-off) with one of the broadest biosimilar portfolios including Hyrimoz (adalimumab), Omnitrope (somatropin), and Erelzi (etanercept). It is also a commercialization partner for Alvotech but competes directly across the same molecule targets.
• Amgen: Amgen is a leading global biopharmaceutical company that both develops innovative biologics (e.g., Enbrel, Prolia, Eylea co-marketer) and has built a biosimilar portfolio through Amgevita/Soliris biosimilar programs. It is both a potential competitor and the originator of several reference biologics Alvotech is targeting.
• Pfizer: Pfizer operates a broad biosimilars portfolio (e.g., Inflectra/Remsima with Celltrion, Nivestym, Retacrit, Zirabev) alongside its innovative biologics business. It is a broad incumbent across multiple therapeutic areas where Alvotech is developing biosimilars.
• Teva Pharmaceutical Industries: Teva is Alvotech's flagship commercialization partner in the US and select global markets, but also operates its own biosimilars business (e.g., Truxima, Herzuma partnerships) and broad specialty/generics portfolio. It represents both a critical commercial channel and a broader incumbent competitor.

Emerging players

• Coherus BioSciences: Coherus BioSciences is a US biosimilars company with approved products including Udenyca (pegfilgrastim biosimilar), Cimerli (ranibizumab), and Yusimry (adalimumab). It is an emerging competitor in ophthalmology and oncology biosimilars with overlapping therapeutic focus.
• Shanghai Henlius Biotech: Shanghai Henlius is a Chinese biopharmaceutical company with an approved biosimilars portfolio (e.g., trastuzumab HLX02, rituximab HLX01, adalimumab HLX03) and an extensive pipeline. It is an emerging competitor in global biosimilar markets, particularly in oncology and immunology.
• Polpharma Biologics: Polpharma Biologics is a European biosimilars developer with a pipeline including ranibizumab, natalizumab, and pertuzumab biosimilars. It is an emerging direct competitor in ophthalmology and immunology biosimilars with overlapping molecule targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/alvotechpr
• Facebookfacebook.com/alvotechpr
• LinkedInlinkedin.com/company/alvotechpr

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds13 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alvotech