Alvotech has completed a private placement of the equivalent of 7,500,000 shares in Swedish Depository Receipts and ordinary shares at a price of SEK 100.00 per SDR and ISK 1320.83 per ordinary share, with the ISK price being the equivalent of the SEK price, for aggregate gross proceeds to the company of SEK 750 million.

Upscaling R&D and strengthening market position

The net proceeds of the placement are intended to be used for: upscaling R&D efforts, especially in Sweden after the recently closed acquisition of the R&D operations of Xbrane, thereby further expanding what is already one of the largest biosimilars pipelines globally; capitalizing on selected growth opportunities and strengthen the company’s market position; and general corporate purposes.