Iceland biosimilars maker Alvotech's nine-month revenue falls 23%
ALVO•Alvotech's revenue for the first nine months of 2026 fell 23% year over year to $323.4 million, while third-quarter product and service revenue rose 78%. The company maintained its full-year revenue and EBITDA guidance but expects results at the lower end of both ranges.
1. Revenue and guidance
Alvotech reported nine-month 2026 revenue of $323.4 million, down 23% year over year. It maintained its full-year revenue guidance of $650 million to $700 million and EBITDA guidance of $180 million to $220 million, while expecting results at the lower end of each range.
2. Supply improvements
Third-quarter product and service revenue rose 78% year over year, driven by increased supply after the completion of a manufacturing improvement program. FDA approvals for new manufacturing processes and suites at the Reykjavik site increased output and operational flexibility, and the company said production and commercial supply continue to ramp up.
