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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     Nasdaq Iceland Media contact:
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