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Iceland biosimilars maker Alvotech's nine-month revenue falls 23%

By Reuters News


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


Reuters Recommended Reads

  • Nov 9 - Biopharma Almirall 9M sales rise on European dermatology growth

  • Nov 10 - Denmark's Lundbeck posts higher Q3 profit, raises FY revenue and EBITDA guidance

  • Nov 9 - Ionis Pharmaceuticals Q3 revenue rises 55%


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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