Alvotech completes $100 million convertible bond private placement

Reykjavik, iceland, july 31, 2023 (globe newswire) -- alvotech (nasdaq: alvo), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the completion of a private placement, in an overseas directed offering directed solely into iceland to professional clients or eligible counterparties, of subordinated convertible bonds denominated in icelandic krona (isk) and us dollar (the “bonds”) for a par value of $100 million. alvotech expects to use the proceeds for continued development of its biosimilars pipeline.
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