Ustekinumab

REYKJAVIK, ICELAND (August 19, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced financial results for the first half of 2026 and provided a business update. A supplemental long‑form earnings release and management presentation providing additional details and business update is available on our website: . 1 H1 2026 financial highlights Adjusted total revenue 2 was $211.9 million compared to $306.1 million in the same period last year. Gross Margin of 54% was broadly level with the same period last year. Adjusted EBITDA 2 was $46.9 million compared to $53.7 million in the same period last year. Cash-balance at the end of the period was $142.8 million compared to $172.4 million on December 31, 2025. USD millions – adjusted financial measures 2 H1 2026 H1 2025 Change % Product and Service Revenue 105.9 204.7 -48.3% License and Other Revenue 105.7 101.4 4.4% Other Income 0.2 0.1 49.7% Total revenue 211.9 306.1 -30.8% Gross margin 54% 55% EBITDA 46.9 53.7 -12.7% Q2 2026 business highlights Alvotech resubmitted US Biologics License Applications for AVT05, proposed biosimilar to Simponi® and Simponi Aria® and AVT06, proposed biosimilar to Eylea®, following the comprehensive responses to the US Food and Drug Administration’s (FDA) Post-Application Action Letter (PAAL). Alvotech’s partner, Dr. Reddy’s Laboratories, resubmitted the US Biologics License Application for AVT03, proposed biosimilar to Prolia®/Xgeva®. FDA confirmed review completion goal dates in alignment with the standard 6-month process, with decisions anticipated in the fourth quarter of 2026. FDA closed its inspection of the company’s manufacturing facility in Reykjavik, conducted in April-May 2026, and confirmed a VAI classification. Alvotech closed an underwritten public offering and private placement, generating gross proceeds of approximately $165 million that will be used for continued pipeline development, working capital and general corporate purposes. Liquidity was further strengthened by a new term loan facility of $75 million with funds managed by GoldenTree Asset Management LP. Comments by Lisa Graver, CEO: “During the first half, we continued to advance our strategic priorities, including significant improvements to our manufacturing facility and quality systems. This work enabled the resubmission in June of our U.S. applications for AVT05 and AVT06 alongside our partner’s resubmission of AVT03. This was an important inflection point as we work towards FDA approvals in the fourth quarter of 2026. The FDA also formally closed its recent routine cGMP surveillance inspection of our facility with a VAI classification. “We have also continued to advance our pipeline, including the FDA acceptance of our BLA for AVT16, our proposed interchangeable biosimilar to Entyvio, and validation by the EMA of the European applications for AVT16 and AVT80. We believe we are well positioned for the next wave of product launches. “The manufacturing improvement program affected output and product availability during the first half, which was reflected in our revenues and adjusted EBITDA. Manufacturing returned to planned operating levels at the end of the second quarter, and we are building supply to meet confirmed demand. We expect this to support strengthening financial performance as we move through the second half of the year. Importantly, underlying commercial demand for products remains strong, both in the U.S. and Europe. “We enter the second half with five biosimilars now contributing to product revenue, and important regulatory catalysts ahead. The strong support received from existing and new investors in our recent equity financing, together with the new term loan facility, further strengthens our financial position as we execute on the significant opportunities that lie ahead.” Outlook for 2026 full year Management anticipates total revenues to be in the range of $650-$700 million and adjusted EBITDA to be in the range of $180-220 million in 2026. Invitation to management presentation Join us to listen to the live audio webcast at 8:00 AM EST (12:00 GMT, 13:00 CET) on Thursday, August 20, 2026. All materials for the webcast are available at . The audio webcast will be accessible via the following link: To participate via telephone in the Q&A session, register using this link: Contacts Media contacts – alvotech.media@alvotech.com Benedikt Stefansson Sarah MacLeod Investor Relations contacts – alvotech.ir@alvotech.com Dr. Balaji V Prasad Benedikt Stefansson Financial calendar Annual or interim results will be released on the dates specified below, after the close of U.S. markets. An earnings call is held on the following day, after release of the results. Please note that all dates are subject to change. Quarter Date of release Date of earnings call Q3 2026 November 11, 2026 November 12, 2026 Q4 2026 March 10, 2027 March 11, 2027 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. Non IFRS Financial Measures This Presentation may include projections of certain financial measures not presented in accordance with International Financial Reporting Standards (“IFRS”) including, but not limited to, Adjusted Revenues, EBITDA and certain ratios and other metrics derived therefrom. These non-IFRS financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under IFRS. You should be aware that the Company’s presentation of these measures may not be comparable to similarly-titled measures used by other companies. The Company believes these non-IFRS measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company believes that the use of these non-IFRS financial measures provide an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. These non-IFRS financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-IFRS financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable IFRS financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable IFRS measures is included and no reconciliation of the forward-looking non-IFRS financial measures is included. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results. 1 The supplemental document and management presentation is provided solely for reference and is not part of this SEC form 6‑K and the form 6‑K should not be read together with, or construed as referring to, the supplemental long‑form release. 2 Figures are adjusted to exclude items that are not indicative of our ongoing operating performance. See disclaimer on ‘Non IFRS Financial Measures’ at the end of this press release. As a foreign private issuer, Alvotech is not required to, and does not, prepare or financial statements under IFRS or with the SEC. The financial information included in this Form 6-K reflects management’s current estimates and is presented for the purpose of providing an interim business update.

Key opportunities include: managing GLP-1s, encouraging biosimilar substitution and employing technology to simplify and personalize the member experience WOONSOCKET, R.I., Aug. 12, 2026 /PRNewswire/ -- CVS Caremark, part of CVS Health® (NYSE: CVS), today announced the findings of a survey conducted in partnership with Employee Benefit News that reveals why employers are increasingly relying on their pharmacy benefit manager (PBM) partners to use their expertise, scale and purchasing power to help them manage their top concern: battling rising drug prices and maintaining access to quality care. This year's The State of Pharmacy Management Survey findings show HR decision makers and executive leaders are focused on navigating the rising price of prescription drugs, managing access to expensive treatments such as GLP-1s, and encouraging the use of more cost-effective biosimilars. Key Findings 91% of employers are concerned about the high prices of medication for employees 88% of employers see PBMs as especially well positioned to reduce prescription drug costs for their businesses 64% say PBMs have the greatest opportunity to improve access to affordable specialty medications "This data reveals the urgency behind employers' need for PBM partners who can address cost, first and foremost," said Ed DeVaney, President, CVS Caremark. "There's a clear opportunity to help employers navigate the evolving pharmacy benefits landscape while driving sustainable benefits for clients and members." Opportunity for employers to encourage greater use of biosimilars The survey findings also illustrate that biosimilars represent one of the largest untapped opportunities for employers to reduce drug costs in the U.S. health care market, offering clinically equivalent therapies to improve affordability and enhance access without compromising safety or efficacy. Today, only about half of employers (49%) are encouraging biosimilar substitution while another 40% are actively considering or exploring it. With just 12% of employers reporting that they are educating employees about the cost savings potential, this study illustrates a significant opportunity for employers to do more to both create better awareness and understanding of the benefits of biosimilars and help their members access them. CVS Caremark has been an industry leader in promoting biosimilar adoption. Since April 2024, biosimilar formulary strategy has helped CVS Caremark clients and members realize more than $3.3 billion in gross savings related to Humira® (adalimumab), and the company is committed to expanding the use of low-cost biosimilars across multiple therapeutic categories. On July 1, 2026, CVS Caremark transitioned from Stelara® (ustekinumab) on its most common commercial template formularies to prefer lower-cost, interchangeable biosimilar alternatives — Pyzchiva® and Yesintek®. Most members will pay $0 out-of-pocket for their therapy. Employers are planning for emerging areas of pharmacy spend, including GLP-1 weight management Weight management has moved into the benefits mainstream, becoming a core component of modern benefits strategy. Seventy-seven percent of employers say the high cost of GLP-1 coverage is a concern — with 80% having either already limited GLP-1 coverage for weight loss or considering limits. CVS Caremark is focused on improving affordability and access to GLP-1s by increasing access to GLP-1 weight management medications this year with expanded coverage options. In addition to negotiating lower prices with drug manufacturers, CVS Caremark works with clients to leverage the right GLP-1 management strategies for each employee population, including utilization management, personalized clinical and nutrition support and more. The lifestyle-first approach of the CVS Weight Management™ program has driven sustainable weight loss results for members and cost savings for plan sponsors. Clients who adopted the program spent up to 26% less on GLP-1 medications for weight-loss compared to those who did not, and members who were previously on anti-obesity medication nearly doubled their pre-program weight loss while working with program clinicians on diet and lifestyle. Digital innovation is central to pharmacy benefits As AI and digital enablement continue to transform the health care experience, employers are looking for pharmacy benefits partners who can leverage digital tools to make support more accessible, personalized and navigable for plan members, with 88% saying that digital tools and innovation as part of the health care experience are "here to stay." CVS Caremark invests over $770 million in technology each year dedicated to member innovation, combining human touch with streamlined digital processes so members can receive the treatment they need quickly. As a founding partner of the Coalition for Health AI (CHAI), CVS Caremark is also helping lead the way in safe and ethical use of AI in health care, all in support of improved health outcomes and a streamlined experience for members, clients and providers. Employers see pharmacy benefit costs as harder to control than other benefits Only 30% of employers said they have significant influence over pharmacy costs, compared to 73% who said they have significant influence over the overall cost of maintaining a competitive benefits package. At the same time, employers are looking for PBMs to help manage pharmacy spending while maintaining access to affordable treatment options. Of those surveyed, 91% say they are very concerned about high medication costs for employees. CVS Caremark helps employers control drug costs and make medications more accessible by working with drug manufacturers to negotiate affordable drug prices for clients and members. Through the industry-leading pricing model, TrueCost™, CVS Caremark allows clients to see true drug costs through acquisition-cost-based pricing and drug-level rebate values, enabling more pricing transparency, predictability and sustainability for plan administrators and members and improving affordability for high-quality treatment. View The State of Pharmacy Management report. About CVS Health CVS Health is a leading health solutions company simplifying health care one person, one family and one community at a time. As of June 30, 2026, the Company had approximately 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care medical clinics and a leading pharmacy benefits manager with approximately 87 million plan members. The Company also serves an estimated 37 million people through a broad range of health insurance products and related services. The Company's integrated model uses personalized, technology driven services to connect people to simply better health, increasing access to quality care, delivering better outcomes, and lowering overall costs. Media contact Phil Blando 202-258-4978 [email protected] SOURCE CVS Health 21% more press release views with Request a Demo