BUZZ-Alvotech rallies after US biosimilar launch
ReutersFeb 21, 2025 4:51 PM
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%
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