Teva, Alvotech rise as FDA approves Stelara biosimilar

Alvotech SA

16/04/2024 23:05

** U.S.-listed shares of Teva Pharmaceutical  TEVA.N  rise
~1.5% to $13.28 in extended trading
    ** The U.S. FDA approves Teva and partner Alvotech's
 ALVO.O  Selarsdi injection, a biosimilar of Johnson & Johnson's
 JNJ.N  Stelara, which treats psoriasis and psoriatic arthritis
    ** ALVO shares up ~1.7% at $12.95 after market 
    ** The companies expect to market Selarsdi in the U.S. on or
after Feb. 21, 2025, following a settlement agreement with JNJ
    ** Up to last close, TEVA up 25.4% and ALVO up 10.9% YTD

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))