Nasdaq Iceland welcomes Alvotech to the Main Market
December 8, 2022 — Nasdaq (Nasdaq:NDAQ) announces that trading in the shares of Alvotech (short name ALVO) will commence today on the Nasdaq Iceland Main Market. The company belongs to the Health care sector. Alvotech is the 67th company to be admitted to trading on Nasdaq’s Nordics markets* in 2022. Alvotech is also listed on the Nasdaq Stock Market in New York.
Alvotech is a biotech company, founded in 2013 by Robert Wessman, focusing solely on the development and manufacture of biosimilars for patients worldwide. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the U.S., Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech‘s headquarters and production facilities are located in Iceland, and the company has more than 900 employees globally.
“Moving from the Nasdaq First North Growth Market to the Main market in Iceland is an important step for us,”said Robert Wessman, Chairman and founder of Alvotech. „By being listed on the Main market we are better equipped to attract a broader spectrum of investors, both domestically and internationally. We have invested over $1 billion over 10 years to build a vertically integrated platform for biosimilars development and manufacture, and we are now going to commercialize biosmilars in multiple markets globally. This is a natural step, supporting our growth as a company.“
“We are very proud to welcome Alvotech to the Main market of Nasdaq Iceland.“, said Magnus Hardarson, President of Nasdaq Iceland. “This move supports Alvotech in creating more value for their existing shareholders and welcoming many new ones going forward. We look forward to continuing working with them and supporting them on their journey through increased visibility and investor access as a Main market company.“
*Main markets and Nasdaq First North on Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, and Nasdaq Stockholm.
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