Alvotech rallies after US biosimilar launch

Alvotech SA

21/02/2025 16:51

** Alvotech  ALVO.O  up 5.4% and US shares of Teva
Pharmaceuticals  TEVA.TA  dipping 1.2% on Fri after the partner
cos said they launched a biosimilar to Johnson & Johnson's
 JNJ.N  Stelara in the US
** Launch marks the second biosimilar to blockbuster autoimmune
drug Stelara following Amgen's  AMGN.O  Wezlana in Jan, with
Biocon Biologics  BIOC.NS  and Fresenius Kabi  FRES.M3  expected
to follow soon
** UBS analyst sees launch as a success path for future
biosimilars; forecasts global sales of $390 mln by 2028
** ALVO's stock has fallen about 7% YTD, while TEVA is down 24%

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com;))