Alvotech has arranged a USD 100 million senior term loan facility with a two-year maturity (due December 2027), led by GoldenTree Asset Management. The facility carries a 12.50% annual interest rate, payable in cash on a monthly basis, and replaces the company’s previous asset-based working capital facility. This transaction provides Alvotech with full access to the USD 100 million over the life of the loan and enhanced operational flexibility to manage its balance sheet.

The new financing bolsters Alvotech’s liquidity position to advance its R&D pipeline and underpins the execution of four planned global biosimilar product launches through 2026. Management highlighted that the additional funding will accelerate late-stage clinical studies, regulatory filings and commercial scale-up activities, ensuring on-time market entries for high-value candidates in autoimmune, oncology and ophthalmology indications.

Alvotech’s development portfolio now encompasses 30 biosimilar programs, ranking it among the industry’s most extensive pipelines. Five biosimilars are currently approved and marketed globally, including candidates referencing Humira® and Stelara®. To support the forthcoming launches, the company is expanding its in-house manufacturing capacity and strengthening supply-chain networks across Europe, North America and Asia, with two new production suites scheduled to come online in H1 2026.

This term loan follows a strategic refinancing secured in June 2024 and a repricing of an existing credit facility in June 2025 (to SOFR + 6.0%). In addition, Alvotech completed a USD 108 million senior unsecured convertible bond issue due 2030 in late 2025. Together, these transactions optimize the company’s funding mix, lower blended financing costs and position Alvotech for sustained investment in its biosimilar franchise.