Reykjavík-based biotech company Alvotech has secured a €100 million senior term loan facility to strengthen its liquidity position and support the execution of its strategic priorities through 2026. The financing is intended to provide additional flexibility as the company scales manufacturing, advances its pipeline, and prepares for multiple global product launches.
The new facility follows a series of capital structure actions taken over the past year, positioning the company for growth rather than short-term defensive financing.
Part of a Broader Refinancing Strategy
In December 2025, Alvotech raised nearly €92 million through senior unsecured convertible bonds due in 2030. Earlier refinancing transactions had already extended major debt maturities out to 2029. Together, these moves have materially reduced near-term refinancing pressure and created a longer runway to support expansion plans.
The newly announced loan replaces Alvotech’s prior working capital arrangement and provides access to the full €100 million over a two-year term. The facility carries an interest rate of 12.50 percent, payable monthly, and prioritises structural simplicity and operational flexibility.
Cleaner Balance Sheet and Predictable Planning
The loan was led by GoldenTree Asset Management, continuing a financing relationship that management says is aligned with Alvotech’s long-term strategy. Rather than layering multiple short-term instruments, the company has focused on reshaping its debt profile to allow more predictable cash flow planning.
According to Alvotech, this approach improves operational freedom by reducing the need for frequent capital management activities. Management teams can instead concentrate on manufacturing execution, regulatory progress, and commercial scale-up across global markets.
Focus on Manufacturing and Supply Chain
The fresh capital is being directed primarily toward increasing manufacturing capacity and strengthening supply chain resilience. As biosimilar production relies on complex biologic manufacturing processes, reliable scale and consistency are critical to both regulatory approval and commercial success.
Alvotech is preparing for four global product launches through 2026, supported by an extensive network of commercial partners. With established access routes across the United States, Europe, Asia, and emerging markets, the company aims to convert its scientific and manufacturing depth into sustained commercial performance.
From Founder Vision to Commercial Reality
Founded in 2013 by Robert Wessman, Alvotech was established with the goal of expanding global access to biologic medicines through the development and manufacture of high-quality, cost-competitive biosimilars. Biosimilars are biologic medicines that are highly similar to approved reference products, with no clinically meaningful differences in safety or efficacy, and are produced using living systems.
Alvotech’s commercial footprint is now well established. Five biosimilars are approved and marketed across multiple global regions, targeting blockbuster biologics such as Humira, Stelara, Eylea, Simponi, and Prolia and Xgeva. These products address large therapeutic areas including autoimmune diseases, ophthalmology, and bone health.
Expanding Pipeline and Long-Term Ambitions
Beyond its marketed portfolio, Alvotech continues to expand its development pipeline. Nine disclosed biosimilar candidates are progressing across areas such as respiratory disease, oncology, osteoporosis, and inflammatory disorders. In total, the company’s research and development engine now encompasses around 30 products at various stages, underscoring the scale of its long-term ambitions.
“This €100 million financing underscores the long-term commitment of our financing partners at GoldenTree and their alignment with Alvotech’s strategy,” said Wessman, Chairman and CEO. He added that the funding strengthens the company’s ability to execute growth plans, invest in R&D, and deliver high-quality biosimilars to patients worldwide.
Positioned for 2026 and Beyond
With a cleaner balance sheet, extended debt maturities, and additional liquidity, Alvotech enters 2026 positioned to focus on execution rather than capital constraints. As demand for affordable biologic alternatives continues to rise globally, the company aims to play a central role in broadening patient access while building a sustainable, large-scale biosimilar platform.
