On August 19, 2026 Alvotech (NASDAQ: ALVO; ALVO-SDB) ("Alvotech" or the "Company"), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, reported financial results for the first half of 2026 and provided a business update.

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A supplemental long‑form earnings release and management presentation providing additional details and business update is available on our website: View Source1" target="_blank" title="View Source1" rel="nofollow">View Source

H1 2026 financial highlights

Adjusted total revenue2 was $211.9 million compared to $306.1 million in the same period last year.
Gross Margin of 54% was broadly level with the same period last year.
Adjusted EBITDA2 was $46.9 million compared to $53.7 million in the same period last year.
Cash-balance at the end of the period was $142.8 million compared to $172.4 million on December 31, 2025.

USD millions – adjusted financial measures2 H1 2026 H1 2025 Change %
Product and Service Revenue 105.9 204.7 -48.3%
License and Other Revenue 105.7 101.4 4.4%
Other Income 0.2 0.1 49.7%
Total revenue 211.9 306.1 -30.8%
Gross margin 54% 55%
EBITDA 46.9 53.7 -12.7%

Q2 2026 business highlights

Alvotech resubmitted US Biologics License Applications for AVT05, proposed biosimilar to Simponi and Simponi Aria and AVT06, proposed biosimilar to Eylea, following the comprehensive responses to the US Food and Drug Administration’s (FDA) Post-Application Action Letter (PAAL).
Alvotech’s partner, Dr. Reddy’s Laboratories, resubmitted the US Biologics License Application for AVT03, proposed biosimilar to Prolia/Xgeva.
FDA confirmed review completion goal dates in alignment with the standard 6-month process, with decisions anticipated in the fourth quarter of 2026.
FDA closed its inspection of the company’s manufacturing facility in Reykjavik, conducted in April-May 2026, and confirmed a VAI classification.
Alvotech closed an underwritten public offering and private placement, generating gross proceeds of approximately $165 million that will be used for continued pipeline development, working capital and general corporate purposes.
Liquidity was further strengthened by a new term loan facility of $75 million with funds managed by GoldenTree Asset Management LP.

Comments by Lisa Graver, CEO:

"During the first half, we continued to advance our strategic priorities, including significant improvements to our manufacturing facility and quality systems. This work enabled the resubmission in June of our U.S. applications for AVT05 and AVT06 alongside our partner’s resubmission of AVT03. This was an important inflection point as we work towards FDA approvals in the fourth quarter of 2026. The FDA also formally closed its recent routine cGMP surveillance inspection of our facility with a VAI classification.

"We have also continued to advance our pipeline, including the FDA acceptance of our BLA for AVT16, our proposed interchangeable biosimilar to Entyvio, and validation by the EMA of the European applications for AVT16 and AVT80. We believe we are well positioned for the next wave of product launches.

"The manufacturing improvement program affected output and product availability during the first half, which was reflected in our revenues and adjusted EBITDA. Manufacturing returned to planned operating levels at the end of the second quarter, and we are building supply to meet confirmed demand. We expect this to support strengthening financial performance as we move through the second half of the year. Importantly, underlying commercial demand for products remains strong, both in the U.S. and Europe.

"We enter the second half with five biosimilars now contributing to product revenue, and important regulatory catalysts ahead. The strong support received from existing and new investors in our recent equity financing, together with the new term loan facility, further strengthens our financial position as we execute on the significant opportunities that lie ahead."

Outlook for 2026 full year

Management anticipates total revenues to be in the range of $650-$700 million and adjusted EBITDA to be in the range of $180-220 million in 2026.

Invitation to management presentation

Join us to listen to the live audio webcast at 8:00 AM EST (12:00 GMT, 13:00 CET) on Thursday, August 20, 2026. All materials for the webcast are available at View Source

The audio webcast will be accessible via the following link:
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To participate via telephone in the Q&A session, register using this link:
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(Press release, Alvotech, AUG 19, 2026, View Source [SID1234670242])