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Alvotech ( (ALVO) ) has issued an update.
On February 18, 2025, Alvotech announced that the FDA accepted its Biologics License Applications for AVT06, a proposed biosimilar to Eylea®, a drug used for treating eye disorders. This step is significant for Alvotech as it strengthens its position in the biosimilar market and aligns with its strategy to provide accessible treatment options. The FDA’s acceptance marks progress in Alvotech’s development efforts, with regulatory approval anticipated by late 2025. This development follows successful clinical trial results in 2024, highlighting the therapeutic equivalence and safety of AVT06 compared to Eylea®.
More about Alvotech
Alvotech is a global biotech company focused on developing and manufacturing biosimilar medicines. The company, founded by Robert Wessman, aims to be a leader in the biosimilar sector, offering high-quality and cost-effective products through a fully integrated approach. Alvotech has a diverse pipeline of biosimilar candidates targeting various conditions, including autoimmune disorders, eye disorders, and cancer. The company has established strategic commercial partnerships worldwide to expand its reach.
YTD Price Performance: -1.29%
Average Trading Volume: 150,843
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $3.92B
Learn more about ALVO stock on TipRanks’ Stock Analysis page.
