Alvotech files 20-F

Alvotech reported a net profit of $27.9 million for the fiscal year ended December 31, 2025, a significant turnaround from prior-year losses, driven by increased product and license revenue and strategic financing activities. The company also acquired Xbrane Biopharma's R&D operations and Ivers-Lee Group to expand its capabilities, but received Complete Response Letters from the FDA for three biosimilar applications due to manufacturing facility deficiencies. (2) Key Points: