Icelandic pharmaceutical company Alvotech to list on Nasdaq Stockholm
Av The company made a significant move into the Swedish life science sector in March this year when it acquired the majority of Solna-based Xbrane Biopharma. Like Xbrane, Alvotech focuses on the development of biosimilars, which are copies of biological drugs whose patents have expired.
“The listing on Nasdaq Stockholm affirms our ambition in biosimilars development and manufacturing globally. It is also a natural step following our recent acquisition of Xbrane’s R&D operations, which establishes a strong presence for Alvotech in the Swedish life-science industry”, said Róbert Wessman, founder and CEO of Alvotech, in a press release.
He and the board consider the timing favorable for expanding their investor base and increasing visibility among Nordic and European institutional investors.
"We believe investors in Sweden, and more broadly in the Nordics and continental Europe, looking for investment opportunities in biotech will find Alvotech highly attractive, with a strong and differentiated value proposition."
Nasdaq Stockholm has, according to the press release, assessed that Alvotech meets the listing requirements and will approve a listing application if customary conditions are met. The company has published a prospectus, and the first trading day on Nasdaq Stockholm is expected to be May 19.
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