Full Press Release Details
REYKJAVIK,ICELAND (June 1, 2026)— Alvotech (Nasdaq: ALVO) and Islandsbanki have renewed and amended their existing market making agreement. According to the agreement, Islandsbanki places bids and offers for ALVO shares trading on the Nasdaq Iceland Main Market (the “Exchange”) for a minimum amount with a fixed spread between the bid and offer price.
The objective of the market-making agreement is to increase trade in Alvotech’s shares, liquidity and transparent price formation.
As a market maker, Islandsbanki will post bid and ask quotes on the Exchange with an aggregate market value of at least ISK 8 million prior to the start of daily trading. Both the bid and ask quotes shall be refreshed as soon as possible but no later than 15 minutes after being executed in full. Islandsbanki aims to maintain more than one bid and/or ask quote for Alvotech’s shares such that the total market value of outstanding quotes is at least ISK 8 million at all times, but the bank is not obligated to maintain multiple bid or ask quotes. Islandsbanki also reserves the right to post additional bid and ask quotes even if existing quotes remain unexecuted.
The maximum spread between bid and ask quotes is 2.5%, calculated as the volume weighted average of the bid and ask quotes for Alvotech’s shares posted by Islandsbanki as market maker at any given time. The daily net volume of trades by Islandsbanki as a market maker in Alvotech’s shares shall be limited to ISK 16 million. This amount is calculated as the difference between bids and asks by Islandsbanki that have been executed in full. When the maximum amount is reached, Islandsbanki is under no further obligation during that day to post either a bid or ask quote, depending on which side has been filled. Once a quote on the opposite side is executed and the daily net volume falls below the ISK 16 million mark, the market maker’s obligation to post bid and ask quotes is restored.
The amended agreement was executed on May 29, 2026, and has no fixed term. Each party has the right to terminate the agreement by giving a 7-day prior notice.
About Alvotech
Alvotech is a biotechnology company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in biosimilars by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira® (adalimumab), Stelara® (ustekinumab), Simponi® (golimumab), Eylea® (aflibercept) and Prolia®/Xgeva® (denosumab). The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. For more information, please visithttps://www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.
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