Icelandic Biotech Company Alvotech to Explore Listing in Stockholm

Dow Jones

03-20

By Dominic Chopping

Icelandic biotechnology company Alvotech intends to explore the possibility of a Stockholm listing as it announced the acquisition of a Swedish research and development operation and drug candidate.

Alvotech said Thursday that it will pay 275 million Swedish kronor ($27.2 million) for Xbrane Biopharma's research and development operations outside of Stockholm and its XB003 drug that is being developed as an anti-inflammation treatment for rheumatoid arthritis and psoriasis patients.

The acquired research and development site will become Alvotech's Swedish base of operations, it said.

Alvotech shares are listed in Iceland and the U.S. and it said it will also explore a possible listing of Swedish Depository Receipts in Stockholm in the future.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 20, 2025 09:16 ET (13:16 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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