Alvotech (NASDAQ: ALVO), a global biotech company specializing in
the development and manufacture of biosimilar medicines for
patients worldwide, today announced that its stock will be added to
the Nasdaq Biotechnology Index (NASDAQ: NBI). The addition comes as
a part of the annual reconstitution of the index. Alvotech’s
inclusion in the NBI will be effective when the U.S. market opens
on Monday, December 23, 2024.
The Nasdaq Biotechnology Index contains securities of
Nasdaq-listed companies classified according to the Industry
Classification Benchmark as either Biotechnology or
Pharmaceuticals. The Nasdaq Biotechnology Index is calculated under
a modified capitalization-weighted methodology. Companies in the
Nasdaq Biotechnology Index must meet various eligibility
requirements, including minimum market capitalization and average
daily trading volume, among other criteria. Nasdaq selects new
constituents of the NBI once annually, in December.
About AlvotechAlvotech is a biotech company,
founded by Robert Wessman, focused solely on the development and
manufacture of biosimilar medicines for patients worldwide.
Alvotech seeks to be a global leader in the biosimilar space by
delivering high quality, cost-effective products, and services,
enabled by a fully integrated approach and broad in-house
capabilities. Two biosimilars, to Humira® (adalimumab) and Stelara®
(ustekinumab) are already approved and marketed in multiple global
markets. The current development pipeline includes nine disclosed
biosimilar candidates aimed at treating autoimmune disorders, eye
disorders, osteoporosis, respiratory disease, and cancer. Alvotech
has formed a network of strategic commercial partnerships to
provide global reach and leverage local expertise in markets that
include the United States, Europe, Japan, China, and other Asian
countries and large parts of South America, Africa and the Middle
East. Alvotech’s commercial partners include Teva Pharmaceuticals,
a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA
Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma
(EEA, UK, Switzerland, Canada, Australia and New Zealand), Dr.
Reddy’s (EEA, UK and US), Biogaran (FR), Cipla/Cipla Gulf/Cipla Med
Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma
Corporation (Canada), Yangtze River Pharmaceutical (Group) Co.,
Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia,
Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding
LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada
Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin
America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam,
Philippines, and South Korea). Each commercial partnership covers a
unique set of product(s) and territories. Except as specifically
set forth therein, Alvotech disclaims responsibility for the
content of periodic filings, disclosures and other reports made
available by its partners. For more information, please visit
https://www.alvotech.com. None of the information on the Alvotech
website shall be deemed part of this press release.
For more information, please visit our investor portal, and our
website or follow us on social media on LinkedIn, Facebook,
Instagram, X and YouTube.
Alvotech Forward Looking StatementsCertain
statements in this communication may be considered “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Forward-looking statements
generally relate to future events or the future financial operating
performance of Alvotech and may include, for example, Alvotech’s
expectations regarding competitive advantages, business prospects
and opportunities including pipeline product development, future
plans and intentions, results, level of activities, performance,
goals or achievements or other future events, regulatory
submissions, review and interactions, the potential approval and
commercial launch of its product candidates, the timing of
regulatory approval, and market launches. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “expect”, “intend”, “will”, “estimate”, “anticipate”,
“believe”, “predict”, “potential”, “aim” or “continue”, or the
negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are
based upon estimates and assumptions that, while considered
reasonable by Alvotech and its management, are inherently uncertain
and are inherently subject to risks, variability, and
contingencies, many of which are beyond Alvotech’s control. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) the ability to
maintain criteria for inclusion in stock market indexes; (2) the
ability to maintain stock exchange listing standards; (3) changes
in applicable laws or regulations; (4) the possibility that
Alvotech may be adversely affected by other economic, business,
and/or competitive factors; (5) Alvotech’s estimates of expenses
and profitability; (6) Alvotech’s ability to develop, manufacture
and commercialize the products and product candidates in its
pipeline; (7) actions of regulatory authorities, which may affect
the initiation, timing and progress of clinical studies or future
regulatory approvals or marketing authorizations; (8) the ability
of Alvotech or its partners to respond to inspection findings and
resolve deficiencies to the satisfaction of the regulators; (9) the
ability of Alvotech or its partners to enroll and retain patients
in clinical studies; (10) the ability of Alvotech or its partners
to gain approval from regulators for planned clinical studies,
study plans or sites; (11) the ability of Alvotech’s partners to
conduct, supervise and monitor existing and potential future
clinical studies, which may impact development timelines and plans;
(12) Alvotech’s ability to obtain and maintain regulatory approval
or authorizations of its products, including the timing or
likelihood of expansion into additional markets or geographies;
(13) the success of Alvotech’s current and future collaborations,
joint ventures, partnerships or licensing arrangements; (14)
Alvotech’s ability, and that of its commercial partners, to execute
their commercialization strategy for approved products; (15)
Alvotech’s ability to manufacture sufficient commercial supply of
its approved products; (16) the outcome of ongoing and future
litigation regarding Alvotech’s products and product candidates;
(17) the impact of worsening macroeconomic conditions, including
rising inflation and interest rates and general market conditions,
conflicts in Ukraine, the Middle East and other global geopolitical
tension, on the Company’s business, financial position, strategy
and anticipated milestones; and (18) other risks and uncertainties
set forth in the sections entitled “Risk Factors” and “Cautionary
Note Regarding Forward-Looking Statements” in documents that
Alvotech may from time to time file or furnish with the SEC. There
may be additional risks that Alvotech does not presently know or
that Alvotech currently believes are immaterial that could also
cause actual results to differ from those contained in the
forward-looking statements. Nothing in this communication should be
regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward-looking statements will be
achieved. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Alvotech
does not undertake any duty to update these forward-looking
statements or to inform the recipient of any matters of which any
of them becomes aware of which may affect any matter referred to in
this communication. Alvotech disclaims any and all liability for
any loss or damage (whether foreseeable or not) suffered or
incurred by any person or entity as a result of anything contained
or omitted from this communication and such liability is expressly
disclaimed. The recipient agrees that it shall not seek to sue or
otherwise hold Alvotech or any of its directors, officers,
employees, affiliates, agents, advisors, or representatives liable
in any respect for the provision of this communication, the
information contained in this communication, or the omission of any
information from this communication.
ALVOTECH INVESTOR RELATIONS AND GLOBAL
COMMUNICATIONSBenedikt Stefansson,
VPalvotech.ir@alvotech.com
Alvontech (NASDAQ:ALVO)
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