Iceland-based Alvotech (Nasdaq: ALVO) announced a USD 75 million term loan facility on July 1, 2026, adding non-dilutive debt capital to fund R&D pipeline advancement and global product launches at a point when the company is managing multiple pending FDA resubmissions and an active multi-market commercial rollout. Combined with a USD 165 million equity raise completed on June 18, 2026, the transaction brings total new capital secured to USD 240 million.
The facility amends Alvotech's existing credit agreement with funds managed by GoldenTree Asset Management LP and other existing lenders, adding a USD 75 million tranche alongside the USD 100 million term loan GoldenTree led in December 2025. The new tranche carries a 12.5% fixed interest rate payable monthly in cash and matures December 31, 2027. The facility is currently undrawn, preserving full optionality on deployment timing.
Alvotech has five biosimilars approved and commercially active across multiple markets — referencing adalimumab (Humira), ustekinumab (Stelara), golimumab (Simponi), aflibercept (Eylea), and denosumab (Prolia/Xgeva) — and reported full-year 2025 revenues of USD 593 million, up 21% year-over-year, with management guiding for USD 650–700 million in 2026. The company carries approximately USD 1.1 billion in total debt. The new capital is intended to support operating execution while the company works through FDA Biologics License Application resubmissions and expands its commercial footprint in Europe, Japan, and the US.