Alvotech up on reaching settlement with J&J for Stelara's biosimilar launch

Alvotech SA

15/02/2024 15:18

** Shares of drug developer Alvotech SA  ALVO.O  rise 1.85%
to ~$16
    ** Co says it has reached settlement agreements with Johnson
& Johnson   JNJ.N  to launch its biosimilar to Stelara, J&J's
psoriasis drug 
    ** ALVO to launch the biosimilar in Japan in May, in Canada
in Q1 of this year and in late July in some European markets
    ** Co to market the biosimilar under the name Ustekinumab BS
(F) in Japan with commercial partner Fuji Pharma  4554.T 
    ** ALVO to also market the biosimilar in Canada under the
name Jamteki and will be sold by ALVO's partner JAMP Pharma, a
pvt co
    ** Co's commercial partner STADA Arzneimittel will start
selling the biosimilar under the name Uzpruvo from July in some
countries in the European Economic Area - ALVO
    ** Stock has risen 17.6% in the last 12 months

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))