Alvotech completes SEK 750 million private placement

On 4 June, Alvotech, which was newly listed on the Nasdaq Stockholm exchange, carried out a private placement of the equivalent of 7,500,000 shares in Swedish Depository Receipts and ordinary shares. The placement resulted in aggregate gross proceeds to the company of SEK 750 million, or nearly $80m USD.


Some 40 institutional investors participated, with about 60% of the demand coming from institutional investors based in Sweden, Norway or the UK, and about 30% from US-based funds. Over 80% of the shares and SDRs were sold to investors that were not previously shareholders in Alvotech.

A principal focus of the funds raised will be to accelerate the company's R&D efforts, especially in Sweden after the recent acquisition of the R&D operations of Xbrane, thereby further expanding what is already one of the world's broadest biosimilars pipelines.

Róbert commented that he was “delighted to welcome a broad group of new shareholders that are ready to join Alvotech on its exciting journey to lead the biosimilars industry, with extensive experience and background from investing in healthcare and biotech globally. This placement will further diversify and strengthen Alvotech’s shareholder base and increase free float of SDRs on Nasdaq Stockholm."