REYKJAVIK, Iceland — August 13, 2025 — Leads & Copy — Alvotech (NASDAQ: ALVO) reported its financial results for the first six months of 2025, showcasing strong performance driven by over 200% growth in product revenues year-on-year and the best quarter in the company’s history in terms of operating cash flows.
The company also noted the continued expansion of commercial partnerships for pipeline assets and its listing on the Nasdaq Stockholm Market.
Alvotech entered into agreements to expand its commercial partnership with Advanz Pharma, covering four biosimilar candidates. It also announced a collaboration and license agreement with Dr. Reddy’s Laboratories Ltd. for AVT32, a biosimilar candidate to Keytruda® (pembrolizumab).
Alvotech completed its transaction with Xbrane Biopharma AB, acquiring its R&D organization in Stockholm, and acquired Ivers-Lee Group in Switzerland. The company completed two offerings of Swedish Depository Receipts, raising approximately SEK 39 million in a public offering and SEK 750 million in a private placement. Alvotech was listed on Nasdaq Stockholm on May 19, 2025.
Linda Jónsdóttir was appointed Chief Financial Officer on July 9, 2025, replacing Joel Morales, who continues to serve in an advisory function.
As of June 30, 2025, Alvotech had cash and cash equivalents of $151.5 million and borrowings of $1,118.2 million.
Product revenue was $204.7 million for the six months ended June 30, 2025, compared to $65.9 million for the six months ended June 30, 2024.
License and other revenue was $101.3 million for the six months ended June 30, 2025, compared to $169.7 million for the six months ended June 30, 2024.
Cost of product revenue was $139.3 million for the six months ended June 30, 2025, compared to $65.2 million for the six months ended June 30, 2024.
R&D expenses were $92.9 million for the six months ended June 30, 2025, compared to $97.5 million for the six months ended June 30, 2024.
G&A expenses were $45.3 million for the six months ended June 30, 2025, compared to $29.6 million for the six months ended June 30, 2024.
Operating profit was $28.6 million for the six months ended June 30, 2025, compared to $43.4 million for the same period in the prior year.
Finance income was $149.2 million for the six months ended June 30, 2025, compared to $80.8 million for the six months ended June 30, 2024.
Finance costs were $72.2 million for the six months ended June 30, 2025, compared to $277.4 million for the six months ended June 30, 2024.
Reported net profit was $141.7 million for the six months ended June 30, 2025, compared to a reported net loss of $153.5 million for the six months ended June 30, 2024.
Contact: Benedikt Stefansson, VP, alvotech.ir@alvotech.com
Source: Alvotech
