Report
Patrik Ling
EUR 92.49 For Business Accounts Only

Alvotech (Buy, TP: USD21.00) - Increased full-year guidance

With its fiscal Q1 report, Alvotech increased its full-year guidance for revenues and the lower end of the guided adj. EBITDA range. Q1 product sales were somewhat soft YOY and QOQ; however, Simlandi (Humira biosimilar) was not officially launched in the US until May. We expect a strong Q2 given recently signed deals (for private-label shipments of AVT02 to the US market and out-licensing of AVT03 to Dr. Reddy’s). We reiterate our BUY and USD21 target price.
Underlying
Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Patrik Ling

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