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Investing.com -- Alvotech (NASDAQ:ALVO), a global biotech company specializing in biosimilar medicines, saw its shares jump 10.4% after reporting strong first-half 2025 results with product revenue surging over 200% compared to the same period last year.
The company reported earnings per share of $0.50 for the first six months of 2025, with product revenue reaching $204.7 million, up from $65.9 million in the first half of 2024. This significant growth was driven by expanded sales of AVT02 in the U.S., Canada, and Europe, as well as increased sales of AVT04 in Europe and its launch in the U.S.
"The strong results from the first half of the year, with over 200% increase in product revenues year-on-year and the best quarter in our history in terms of operating cash flows, confirm our business momentum and the opportunities that lie ahead," said Robert Wessman, Chairman and CEO of Alvotech .
The company’s operating profit was $28.6 million for the six-month period, compared to $43.4 million in the same period last year. The year-over-year decrease reflects the timing of milestone-related revenue recognized in the prior period, partially offset by the substantial product sales growth.
During the second quarter, Alvotech expanded its commercial partnership with Advanz Pharma, covering four biosimilar candidates, and entered into a collaboration agreement with Dr. Reddy’s Laboratories to co-develop AVT32, a biosimilar candidate to Keytruda. The company also completed the acquisition of Xbrane’s R&D organization in Sweden and acquired Ivers-Lee Group in Switzerland in July.
Alvotech ended the period with a strong cash position of $151.5 million, bolstered by robust operational performance and a successful Swedish private placement that raised gross proceeds of approximately SEK 789 million.
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