The latest announcement is out from Alvotech ( (ALVO) ).
On March 26, 2025, Alvotech announced that the UK Medicines and Healthcare Products Regulatory Agency (MHRA) accepted a marketing authorization application for AVT23, a proposed biosimilar to Xolair (omalizumab). This development marks a significant step in Alvotech’s efforts to enhance patient access to important biologics and reinforces its strategic partnerships with companies like Kashiv Biosciences and Advanz Pharma. The acceptance of the application is expected to strengthen Alvotech’s position in the biosimilar market, potentially impacting stakeholders by expanding treatment options and improving access to cost-effective therapies.
More about Alvotech
Alvotech is a global biotech company focused on developing and manufacturing biosimilar medicines. Founded by Robert Wessman, the company aims to be a leader in the biosimilar space by providing high-quality, cost-effective products. Alvotech has a broad development pipeline targeting autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. It has established strategic commercial partnerships worldwide, including in the United States, Europe, Japan, China, and other regions.
YTD Price Performance: -11.40%
Average Trading Volume: 148,123
Technical Sentiment Signal: Buy
Current Market Cap: $3.52B
Learn more about ALVO stock on TipRanks’ Stock Analysis page.