Aflibercept

Enhanced process increases manufacturing productivity and frees up capacity to support growing demand across Alvotech’s biosimilars portfolio REYKJAVIK, Iceland and LONDON, UK (October 20, 2026) - Alvotech (NASDAQ: ALVO; ALVO-SDB), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that the U.S. Food and Drug Administration (FDA) has approved a new manufacturing process for SIMLANDI® (adalimumab-ryvk), Alvotech’s biosimilar to Humira® (adalimumab). The FDA approval allows Alvotech to introduce Process 2.0 for the manufacture of adalimumab drug substance in its DSM2 manufacturing suite in Reykjavik, Iceland. The new process more than doubles drug substance output per batch without changing the upstream manufacturing scale. The improvement was achieved through targeted process development, effective process transfer and successful process validation, with demonstrated comparability to the previously approved process, maintaining product quality, safety and efficacy. “More than doubling drug substance output per batch while maintaining product quality is a significant achievement that reflects the expertise of our process development and manufacturing teams,” said Joseph McClellan, Chief Operating Officer of Alvotech. “The new process allows us to manufacture the same quantity of drug substance in fewer batches, freeing up capacity to support other products in our portfolio, making better use of our existing infrastructure and giving us greater flexibility to respond to growing demand. Together with the recent FDA approval of additional manufacturing capacity, this demonstrates the strength of our operations in Reykjavik and reinforces our ability to deliver reliable supply to our commercial partners as demand for our biosimilars continues to grow.” For further information, contact: Media Benedikt Stefansson Sarah MacLeod alvotech.media@alvotech.com Investors Dr. Balaji V Prasad Benedikt Stefansson Mikaela Vilchez alvotech.ir@alvotech.com About Alvotech Alvotech is a biotechnology company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira® (adalimumab), Stelara® (ustekinumab), Simponi® (golimumab), Eylea® (aflibercept) and Prolia®/Xgeva® (denosumab). The current development pipeline includes disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. For more information, please visit None of the information on the Alvotech website shall be deemed part of this press release. For more information, please visit our website or follow us on social media on LinkedIn , Facebook , Instagram , and YouTube . Forward Looking Statements Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, for example, Alvotech’s expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, regulatory submissions, review and interactions, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, market launches and financial projections. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents that Alvotech may from time-to-time furnish with the SEC. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Alvotech does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication. Alvotech disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed.

EyePoint shares plummeted more than 84% Monday morning after the company announced that its phase 3 Lucia trial—its final holdout in wet age-related macular degeneration (wet AMD) following a previous miss in August—failed to meet its primary endpoint. Lucia tested EyePoint’s drug-device combo Duravyu against the current standard of care for wet AMD, Regeneron’s blockbuster Eylea, in hopes of demonstrating equal treatment benefit with fewer ocular injections. But in new topline results, EyePoint disclosed that its tyrosine kinase inhibitor performed worse than Eylea in the primary endpoint of improved best-corrected visual acuity (BCVA)—with the study in turn failing to meet its non-inferiority goal. The results could mark the final straw for Duravyu’s wAMD program. In an attempt to soothe investors and preserve capital, EyePoint said it plans to reduce its workforce by 53% and cut both Lucia and its companion phase 3 Lugano short without completing their planned second year. The rapid restructuring is expected to save the drugmaker $30 million that it can reallocate to its diabetic macular edema (DME) pipeline, which EyePoint has named its new priority. Just two months ago, Lucia was a beacon of hope after the twin Lugano trial miss was attributed to “bad luck." Unusual rates of non-wet AMD vision loss were believed to confound the trial and keep it from meeting its primary endpoint. Jefferies analysts were inclined to see the “bad luck explanation as legit,” leaving room for hope that Lucia would right the ship. “Lucia feels like a coin flip, but we lean pos given how close Lugano was to a win,” the Jefferies team said at the time. But in the topline readout, Duravyu improved BVCA by only 2.5 letters over 52 weeks to Eylea’s 6-letter improvement—a 3.7 difference, which fell outside of the non-inferiority margin. “I want to reiterate that we continue to believe TKIs have the potential to be the next phase of retinal disease innovation. Today’s data reinforces our fundamental conviction in Duravyu,” said EyePoint CEO Jay Duker, M.D., on a Monday conference call discussing the results. The aim of Duravyu is to provide vision benefits equal to traditional anti-VEGF treatments but with more durable delivery. Duravyu’s ocular implant delivers a sustained release of the drug vorolanib for at least six months, potentially giving patients more continuous relief with fewer interventions. On the investor call, Duker emphasized Duravyu’s success across multiple secondary endpoints in Lucia, including a significant improvement in fluid control and a 38% decrease in number of injections, while safety data remained favorable. He said EyePoint will also do an additional analysis on the Lucia and Lugano trials to “assess the next steps for Duravyu as a potential treatment for wAMD.” But DME will become the company’s new top priority. EyePoint finished enrolling the Como and Capri phase 3 trials testing Duravyu in that indication in July. Both are set to readout in the fourth quarter of 2027. In an attempt to bolster investor confidence in the DME pipeline, Duker reviewed the data from Duravyu’s phase 2 DME win on the call. In the midstage trial, Duravyu sustained visual acuity, and more than 70% of patients on the drug remained supplement-free for six months. The drug also showed potential for a more rapid reduction in fluid and improvement in vision compared to Eylea—with benefits seen as early as week four. Based on the drug’s mechanism of action and the phase 2 findings, EyePoint is “confident that Duravyu is positioned well to deliver potentially earlier benefits with fewer injections versus the standard of care,” Duker said. Eyepoint estimates it had $118 million in cash and equivalents as of Sept. 30. The pharma said it expects most of the workforce reduction to be done by end-of-year and finish in the first half of 2027. The reorganization is expected to cost the company roughly $9 million in severance and separation benefits, according to EyePoint.