Alvotech Shares Plunge 33% After FDA Flags Issues
ALVO received a complete response letter (CRL) from the FDA. Deficiencies noted in the BLA for AVT05 biosimilar to Simponi. Total revenue outlook for 2025 revised to $570-$600 million. ALVO stock dropped 33.99% to $5.05 following the news. Current FDA approvals for a Simponi biosimilar remain unachieved.
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