Alvotech has closed a USD 100 million senior term loan facility with a two-year maturity, due December 2027. The transaction was led by GoldenTree Asset Management and replaces the company’s previous asset-based lending facility. The new loan provides Alvotech with full access to USD 100 million throughout the term, strengthening its cash position and liquidity runway into 2027.

The term loan carries a fixed interest rate of 12.50%, payable in cash on a monthly basis. This rate reflects current market conditions and Alvotech’s credit profile, and offers the company greater predictability for interest expense planning. The absence of amortization payments until maturity enhances operational flexibility for ongoing R&D investment and working capital management.

Proceeds from the facility will be directed to the execution of Alvotech’s R&D pipeline, which comprises 30 biosimilar candidates, and to support four planned global product launches through the end of 2026. The company’s pipeline includes late-stage assets targeting autoimmune disorders, oncology indications and ophthalmology. Expanded production capacity and supply-chain enhancements will be funded in parallel to secure timely commercial supply in key markets across North America, Europe and Asia.

This senior term loan follows a 2024 refinancing of a June 2029 facility, also led by GoldenTree, and a June 2025 repricing of an existing credit line to SOFR plus 6.0%. In addition, Alvotech placed USD 108 million of senior unsecured convertible bonds due 2030 in late 2025. Combined, these transactions reinforce the company’s capital structure, lower refinancing risk and underpin continued investment in its biosimilar development and global commercial expansion.