Alvotech Reports Strong Revenue Growth and Business Expansion
Biotechnology firm Alvotech announced over 200% product revenue growth in the first half of 2025 and its strongest quarter for operating cash flow. The company also expanded commercial partnerships and acquired new R&D facilities.
REYKJAVIK, Iceland – Alvotech reported strong financial results for the first six months of 2025, highlighted by a more than 200% year-on-year increase in product revenues. The company also achieved its best quarter historically in terms of operating cash flow.
Alvotech specializes in the development and manufacture of biosimilar medicines. The company has expanded its commercial partnerships with Advanz Pharma, covering four biosimilar candidates, including one referencing Ilaris® (canakinumab). Additionally, Alvotech entered a collaboration with Dr. Reddy’s Laboratories to co-develop, manufacture, and commercialize AVT32, a biosimilar candidate to Keytruda® (pembrolizumab).
Strategic acquisitions have also been a focus. Alvotech acquired Xbrane Biopharma AB's R&D organization in Sweden and rights to a biosimilar candidate to Cimzia® (certolizumab pegol). Furthermore, the company acquired the Swiss-based Ivers-Lee Group, a provider of assembly and packaging services for the pharmaceutical sector.
Alvotech also listed on the Nasdaq Stockholm exchange in May 2025, marking its third listing alongside Nasdaq in the US and Iceland. These activities have provided significant funding and led to improved loan terms, projected to lower interest expenses by approximately $8.2 million in the first 12 months.