Alvotech Reports Revenue Growth Amidst Regulatory Challenges
Biotech firm Alvotech announced a 24% increase in revenue for the first nine months of 2025, reaching $420 million. However, adjusted EBITDA declined due to increased R&D spending and lower licensing revenues.
Alvotech, a global biotech company focused on biosimilar medicines, reported on November 12, 2025, that its total revenues for the first nine months of 2025 increased by 24% to $420 million compared to the same period last year. Product and service revenue saw a significant jump of 85%, reaching $237 million, while license and other revenue decreased by 13% to $182 million.
The company's adjusted EBITDA for the nine-month period was $68 million, a 21% decrease year-over-year. This decline was attributed to higher research and development investments aimed at accelerating pipeline expansion and reduced licensing revenues during the period.
CEO Robert Wessman addressed concerns regarding issues identified during an FDA inspection of the company's Reykjavik facility in July. "Resolving issues identified during the FDA inspection of our Reykjavik facility in July is a top priority," Wessman stated. He emphasized that the facility remains FDA-approved, and production continues for the U.S. and other markets. Alvotech expects to be the first to launch a biosimilar to Simponi in the UK, EEA, and Japan.
During the third quarter, three new biosimilars received approvals in Japan and either recommendations for approval or marketing authorization in Europe. The company revised its full-year revenue outlook to $570-$600 million and adjusted EBITDA to $130-$150 million. Alvotech anticipates strong growth in 2026, supported by a robust order book for upcoming product launches in ex-U.S. markets.