Iceland biosimilars maker Alvotech's nine-month revenue falls 23%
Overview
Iceland biosimilars maker's 9M 2026 revenue fell 23% yr/yr to $323.4 mln
Q3 product and service revenue rose 78% yr/yr
Company maintains 2026 revenue and EBITDA guidance, expects results at lower end of range
Outlook
Alvotech maintains full-year 2026 revenue guidance of $650-$700 mln, expects lower end performance
Company maintains full-year 2026 EBITDA guidance of $180-$220 mln, expects results at lower end
Alvotech says production and commercial supply continue to ramp up after manufacturing improvements
Result Drivers
MANUFACTURING IMPROVEMENTS - Co said Q3 product and service revenue growth was driven by increased supply following completion of a manufacturing improvement program
CAPACITY EXPANSION - FDA approvals for new manufacturing processes and suites at Reykjavik site increased output and operational flexibility
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Total Revenue | $323.4 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Alvotech SA is $8.00, about 63.9% above its November 10 closing price of $4.88
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)