Founder and Chairman Robert Wessman will ring the closing bell for Nasdaq Iceland on December 8, 2022 at 15:30 GMT.
A listing on a major market could increase visibility and allow the company to appear in both national and global indices
After debuting on the market in June, Alvotech became the first Icelandic company to be dual-listed in the US and Iceland, trading under the symbol ‘ALVO’.
REYKJAVIK, ICELAND, Dec. 08, 2022 (GLOBE NEWSWIRE) — Alvotech (NASDAQ: ALVO), a global biotechnology company dedicated to the development and manufacture of biosimilar medicines for patients worldwide, It announced that trading in the stock would move away from the Nasdaq. From the Iceland First North Growth Market (“First North”) to the Nasdaq Iceland Main Market (“Main Market”), starting today, December 8, 2022. Albotech’s “ALVO” stock market symbol will remain unchanged and will trade on the Nasdaq U.S. Stock Exchange. Not affected. Listing on the Icelandic main market can increase the visibility of a company and, subject to meeting certain conditions, may lead to inclusion in Icelandic and international indices.
“After debuting as the first dual-listed Icelandic company in both the US and Iceland, we are pleased to see our shares listed on the Main Market. We may be able to invest in it,” said Robert Wessman. , executive his chairman and founder of Alvotech. “Alvotech has invested more than $1 billion to build an integrated platform to develop and manufacture more affordable biologics that can improve the lives of patients around the world,” said Alvotech, an IPO. It is a global, pure play biosimilar company.”
To celebrate the listing on the Main Market, Wesmann will ring the closing bell of the Icelandic Nasdaq Stock Exchange on December 8, 2022 at 15:30 GMT.
Alvotech’s shares have been dual listed since June 2022 after being admitted to trading on the Nasdaq stock exchange in the United States on June 16, 2022 and on the First North on June 23, 2022. On August 12, 2022, Alvotech’s Board of Directors announced the plan. On December 2, 2022, his Nasdaq in Iceland approved his Alvotech’s request to move the listing from the First North to the Main Market and trade shares on the Main Market. The date of the transfer was officially announced by the stock exchange on December 6, 2022, following the issuance of the official passport of the prospectus relating to the Luxembourg to Iceland main market listing.
Alvotech is a biotechnology company founded by Robert Wessman dedicated to the development and manufacture of biosimilar medicines for patients worldwide. Alvotech aims to become a global leader in the biosimilars space by providing high-quality, cost-effective products and services enabled by a fully integrated approach and extensive in-house capabilities. Alvotech’s current pipeline includes eight biosimilar candidates for the treatment of autoimmune diseases, eye diseases, osteoporosis, respiratory diseases and cancer. Alvotech has strategically placed strategic It forms a network of commercial partnerships. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Cipla/Cipla Gulf/Cipla Med Pro ( Australia, New Zealand). , South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh, Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur, Saval (Latin America), Lotus Pharmaceuticals Co., Ltd. (Thailand, Thailand) Vietnam, Philippines, Korea). Each commercial partnership covers a unique set of products and regions. Except as specifically stated therein, Alvotech is not responsible for the content of periodic submissions, disclosures and other reports provided by partners. For more information, see: www.alvotech.comInformation on the Alvotech website is not considered part of this press release.
Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or future financial performance of Alvotech, including, for example, Alvotech’s ability to maintain its Main Market listing requirements and to be selected for inclusion in certain indices. It may include competence, increased awareness, etc. expectations regarding competitive advantages, business prospects and opportunities, including pipeline product development, future plans and intentions, results, levels of activity, performance, goals or achievements, or other future events; “may”, “should”, “expect”, “intend”, “will”, “estimate”, “predict”, “believe”, “predict” as the case may be ” and other terms identify forward-looking statements. , “possibility”, “purpose”, “continuation”, or any negative form of these terms, or variations thereof, or similar terms. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There is a possibility. These forward-looking statements, while believed to be reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability and unforeseen circumstances. and are based on estimates and assumptions, many of which are beyond Alvotech’s control. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: (1) changes in applicable laws or regulations; (2) Alvotech’s ability to maintain stock exchange listing criteria and inclusion criteria for certain indices; (3) Alvotech may be adversely affected by other economic, business and/or competitive factors; (4) Alvotech’s cost and profitability estimates. (5) Alvotech’s ability to develop, manufacture and commercialize pipeline products and product candidates; (6) regulatory actions that may affect the initiation, timing or progress of clinical studies or future regulatory approval or marketing authorization; (7) the ability of Alvotech or its partners to enroll and maintain patients in clinical trials; (8) the ability of Alvotech or its partners to obtain approval from regulatory authorities for any proposed clinical study, research program or site; (9) the ability of Alvotech’s partners to conduct, direct and monitor existing and potential future clinical studies that may impact development timelines and plans; (10) Alvotech’s ability to obtain and maintain regulatory approvals or approvals for its products, including the timing or potential for expansion into additional markets or geographies; (11) the success of Alvotech’s current and future collaborations, joint ventures, partnerships or license agreements; (12) the ability of Alvotech and its commercial partners to execute its approved product commercialization strategy; (13) Alvotech’s ability to manufacture a sufficient commercial supply of approved products; (14) results of ongoing and future litigation involving Alvotech’s products and product candidates; (15) the potential impact of the ongoing COVID-19 pandemic on FDA’s review schedule, including its ability to complete timely inspections of manufacturing sites; (16) deteriorating macroeconomic conditions, including rising inflation and interest rates and general market conditions, the war in Ukraine and global geopolitical tensions, the ongoing and evolving COVID-19 pandemic, (17) the “Risk Factors” and “Cautionary Statements Regarding Forward-Looking Statements” in documents that Alvotech may file or file with the SEC from time to time; and other risks and uncertainties described in the entitled section. There are additional risks that Alvotech is not currently aware of or that Alvotech currently believes are not material that could cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication is a representation that the forward-looking statements contained herein will be achieved or that any of the intended results of such forward-looking statements will be achieved. should not be considered. Forward-looking statements speak only as of the date they are made. Alvotech undertakes no obligation to update these forward-looking statements or to notify recipients of any matters that it becomes aware of that may affect any matter mentioned in this communication. not. Alvotech disclaims all liability for any loss or damage (whether foreseeable or not) suffered or suffered by any person or entity as a result of any or all omissions contained in this communication and shall not be liable for such loss or damage. any liability is expressly disclaimed. The recipient may not sue Alvotech or its directors, officers, employees, affiliates, agents, advisors, or representatives in any way whatsoever with respect to the provision of this communication, or the information contained in this communication. , you agree not to hold us liable. or omission of information from this communication.
This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or elsewhere, nor shall any state or jurisdiction in which such securities be sold be made. No securities shall be sold in the Territory. Any offer, solicitation, or sale prior to registration or qualification under the securities laws of any such state or jurisdiction is unlawful.
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