BUZZ-Teva rises as FDA accepts to review biosimilar to eye disease drug Eylea

U.S.-listed shares of Israel-based drugmaker Teva Pharmaceutical Industries TEVA.TA, TEVA.N rises 6.6% to $17.32 premarket

TEVA and partner Biotech Alvotech ALVO.O say the U.S. FDA has accepted for review its marketing application for a biosimilar or close copy of Regeneron's REGN.O Eylea

Co says AVT06 is a proposed biosimilar of Eylea's 2 milligram dose which is used to treat eye disorders like macular degeneration, macular edema and retinopathy

Co, ALVO expects regulatory decision for AVT06 by Q4 2025

Some key patents of Eylea are set to expire in 2027, according to a regulatory filing

ALVO is also developing AVT29, a biosimilar for Eylea HD, a 8 mg dose of the drug

Amgen AMGN.O will also make its biosimilar version of Eylea available to patients after a U.S. appeals court rejected REGN's request to block its launch

In the last 12 months, TEVA has risen 32.4%