Today, Alvotech Holding's shares were listed on the Nasdaq stock exchange in New York. In the coming days, another milestone will be reached with the company's dual listing on the Nasdaq First North Growth market in Iceland. Arctica Finance, Landsbankinn, and Arion Bank were among the advisors to Alvotech during the capital increase leading up to the listing.
At the start of trading, Alvotech was the only Icelandic company listed on a U.S. stock exchange. Furthermore, the aim is for Alvotech shares to be admitted to trading on the Nasdaq First North Growth market in Iceland starting June 23, 2022, which would mark the first time shares in an Icelandic company are simultaneously listed for trading on a stock exchange in the United States and in Iceland.
Since its founding a decade ago, Alvotech has built a specialized high-tech center with fully integrated facilities for the development and large-scale production of biosimilar medicines. Biosimilars have the same clinical efficacy as biologics, which have proven effective in treating numerous diseases and represent one of the fastest-growing segments of the pharmaceutical market. In this way, Alvotech works to increase patient access to more affordable biologic medicines by producing biosimilars that can reduce healthcare costs worldwide.
