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REYKJAVIK - Biosimilar developer Alvotech (NASDAQ:ALVO), a $2.5 billion market cap company with strong revenue growth of 82% over the last twelve months, announced Wednesday the appointment of Patrik Ling as VP Investor Relations Scandinavia, based in Stockholm.
Ling brings over 25 years of life-science industry experience to the role. He most recently served as Senior Equity Analyst at investment bank DNB Carnegie, where he covered life science companies, including Alvotech.
His career began in pharmaceutical marketing and sales before transitioning to the financial sector as a portfolio manager and equity analyst focusing on life sciences.
Róbert Wessman, chairman and CEO of Alvotech, cited Ling’s background in both pharmaceuticals and finance as valuable assets for broadening the company’s Scandinavian shareholder base.
Alvotech currently has two biosimilars approved and marketed globally, referencing Humira (adalimumab) and Stelara (ustekinumab). The company’s development pipeline includes nine additional biosimilar candidates targeting various medical conditions.
The Iceland-based biotech has established commercial partnerships across multiple regions including the United States, Europe, Japan, China, and parts of South America, Africa and the Middle East.
According to the press release statement, Alvotech recently established a new R&D base in Sweden, further strengthening its Nordic presence.
In other recent news, Alvotech reported a substantial increase in product revenue, which surged over 200% year-over-year for the first half of 2025. The company announced earnings per share of $0.50 for this period, with product revenue reaching $204.7 million, a significant rise from $65.9 million in the first half of 2024. This growth was primarily attributed to expanded sales of AVT02 in the U.S., Canada, and Europe, alongside increased sales of AVT04 in Europe and its launch in the U.S. These developments highlight Alvotech’s strong performance and market expansion in key regions.
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