Stock-market

Alvotech Shares Begin Buying and selling on Nasdaq Iceland Major Market

Alvotech

Alvotech

  • Robert Wessman Founder and Government Chairman will ring the Nasdaq Iceland closing bell at 15:30 GMT on December 8, 2022

  • Itemizing on the Major Market can improve visibility, which can enable the corporate to seem in each home and international indexes

  • Alvotech turned first dual-listed Icelandic firm within the U.S. and Iceland after market debut in June, buying and selling underneath the image “ALVO“

REYKJAVIK, Iceland, Dec. 08, 2022 (GLOBE NEWSWIRE) — Alvotech (NASDAQ: ALVO), a world biotech firm specializing within the growth and manufacture of biosimilar medicines for sufferers worldwide, introduced that buying and selling in its shares will transfer from the Nasdaq Iceland First North Progress market (“First North”) to the Nasdaq Iceland Major Market (“Major Market”), beginning right now December 8, 2022. The “ALVO” inventory market image for Alvotech stays unchanged and commerce on the Nasdaq U.S. inventory alternate is just not affected.  A Major Market itemizing in Iceland can improve an organization’s visibility and, topic to assembly sure situations, might end in inclusion in Icelandic and worldwide indexes.

“After our debut as the primary dual-listed Icelandic firm in each the U.S. and Iceland, we’re happy to have our shares listed on the Major Market, which can enable a broader vary of traders to put money into our shares,” mentioned Robert Wessman, Government Chairman and founding father of Alvotech. “Alvotech is publicly traded, pure play, international biosimilars firm that has invested over $1 billion to construct an built-in platform for creating and producing extra inexpensive biologic medicines which might enhance affected person lives all all over the world.”

To have a good time the itemizing on the Major Market, Mr. Wessman will ring the closing bell for the Nasdaq inventory alternate in Iceland at 15:30 GMT on December 8, 2022.

Alvotech’s shares have been twin listed since June 2022, after being admitted to buying and selling the Nasdaq Inventory Market within the U.S. on June 16, 2022 and on First North on June 23, 2022. On August 12, 2022, Alvotech’s Board of Administrators introduced a plan to maneuver the itemizing from First North to the Major Market and on December 2, 2022 Nasdaq Iceland authorized Alvotech’s request to commerce its shares on the Major Market. The date for the switch was formally introduced by the inventory alternate on December 6, 2022, following the offical passporting of the prospectus associated to the Major Market itemizing from Luxembourg to Iceland.

About Alvotech
Alvotech is a biotech firm, based by Robert Wessman, centered solely on the event and manufacture of biosimilar medicines for sufferers worldwide. Alvotech seeks to be a world chief within the biosimilar house by delivering prime quality, cost-effective merchandise, and companies, enabled by a completely built-in method and broad in-house capabilities. Alvotech’s present pipeline accommodates eight biosimilar candidates aimed toward treating autoimmune problems, eye problems, osteoporosis, respiratory illness, and most cancers. Alvotech has shaped a community of strategic industrial partnerships to supply international attain and leverage native experience in markets that embody america, Europe, Japan, China, and different Asian international locations and enormous elements of South America, Africa and the Center East. Alvotech’s industrial companions embody Teva Prescription drugs, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Cipla/Cipla Gulf/Cipla Med Professional (Australia, New Zealand, South Africa/Africa), JAMP Pharma Company (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Center East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Prescription drugs Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Every industrial partnership covers a novel set of product(s) and territories. Besides as particularly set forth therein, Alvotech disclaims duty for the content material of periodic filings, disclosures and different stories made accessible by its companions. For extra data, please go to www.alvotech.com. Not one of the data on the Alvotech web site shall be deemed a part of this press launch.

Ahead Trying Statements
Sure statements on this communication could also be thought-about “forward-looking statements” inside the that means of the Personal Securities Litigation Reform Act of 1995, as amended. Ahead-looking statements typically relate to future occasions or the long run monetary working efficiency of Alvotech and should embody, for instance, Alvotech’s skill to take care of the necessities for itemizing on the Major Market and to be chosen for inclusion in sure indexes, its improve in visibility, its expectations concerning aggressive benefits, enterprise prospects and alternatives together with pipeline product growth, future plans and intentions, outcomes, degree of actions, efficiency, targets or achievements or different future occasions. In some instances, you’ll be able to establish forward-looking statements by terminology comparable to “might”, “ought to”, “count on”, “intend”, “will”, “estimate”, “anticipate”, “consider”, “predict”, “potential”, “goal” or “proceed”, or the negatives of those phrases or variations of them or comparable terminology. Such forward-looking statements are topic to dangers, uncertainties, and different elements which may trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. These forward-looking statements are primarily based upon estimates and assumptions that, whereas thought-about cheap by Alvotech and its administration, are inherently unsure and are inherently topic to dangers, variability, and contingencies, lots of that are past Alvotech’s management. Elements that will trigger precise outcomes to vary materially from present expectations embody, however will not be restricted to: (1) adjustments in relevant legal guidelines or laws; (2) Alvotech’s skill to take care of inventory alternate itemizing requirements and requirements to be included in sure indexes; (3) the likelihood that Alvotech could also be adversely affected by different financial, enterprise, and/or aggressive elements; (4) Alvotech’s estimates of bills and profitability; (5) Alvotech’s skill to develop, manufacture and commercialize the merchandise and product candidates in its pipeline; (6) actions of regulatory authorities, which can have an effect on the initiation, timing and progress of medical research or future regulatory approvals or advertising authorizations; (7) the power of Alvotech or its companions to enroll and retain sufferers in medical research; (8) the power of Alvotech or its companions to realize approval from regulators for deliberate medical research, examine plans or websites; (9) the power of Alvotech’s companions to conduct, supervise and monitor current and potential future medical research, which can affect growth timelines and plans; (10) Alvotech’s skill to acquire and preserve regulatory approval or authorizations of its merchandise, together with the timing or chance of enlargement into extra markets or geographies; (11) the success of Alvotech’s present and future collaborations, joint ventures, partnerships or licensing preparations; (12) Alvotech’s skill, and that of its industrial companions, to execute their commercialization technique for authorized merchandise; (13) Alvotech’s skill to fabricate adequate industrial provide of its authorized merchandise; (14) the end result of ongoing and future litigation concerning Alvotech’s merchandise and product candidates; (15) the potential affect of the continued COVID-19 pandemic on the FDA’s evaluate timelines, together with its skill to finish well timed inspection of producing websites; (16) the affect of worsening macroeconomic situations, together with rising inflation and rates of interest and common market situations, struggle in Ukraine and international geopolitical stress, and the continued and evolving COVID-19 pandemic on the Firm’s enterprise, monetary place, technique and anticipated milestones; and (17) different dangers and uncertainties set forth within the sections entitled “Threat Elements” and “Cautionary Be aware Concerning Ahead-Trying Statements” in paperwork that Alvotech might now and again file or furnish with the SEC. There could also be extra dangers that Alvotech doesn’t presently know or that Alvotech at present believes are immaterial that might additionally trigger precise outcomes to vary from these contained within the forward-looking statements. Nothing on this communication must be considered a illustration by any individual that the forward-looking statements set forth herein can be achieved or that any of the contemplated outcomes of such forward-looking statements can be achieved. You shouldn’t place undue reliance on forward-looking statements, which communicate solely as of the date they’re made. Alvotech doesn’t undertake any obligation to replace these forward-looking statements or to tell the recipient of any issues of which any of them turns into conscious of which can have an effect on any matter referred to on this communication. Alvotech disclaims any and all legal responsibility for any loss or harm (whether or not foreseeable or not) suffered or incurred by any particular person or entity on account of something contained or omitted from this communication and such legal responsibility is expressly disclaimed. The recipient agrees that it shall not search to sue or in any other case maintain Alvotech or any of its administrators, officers, workers, associates, brokers, advisors, or representatives liable the least bit for the availability of this communication, the data contained on this communication, or the omission of any data from this communication.

No Provide
This communication is for informational functions solely and doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any securities in america or elsewhere, nor shall there be any sale of any such securities in any state or jurisdiction wherein such provide, solicitation, or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of such state or jurisdiction.

CONTACTS
Alvotech Investor Relations and World Communications
Benedikt Stefansson
alvotech.ir[at]alvotech.com

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