Partners STADA and Alvotech Bagged Approval for Uzpruvo, Europe's First Ustekinumab Biosimilar to Stelara
Portfolio Pulse from Benzinga Newsdesk
STADA and Alvotech have received European Commission marketing authorization for Uzpruvo (AVT04), the first ustekinumab biosimilar to Stelara, in the European Economic Area. The authorization allows for market entry post-July 2024, after the expiry of Stelara's European Supplementary Protection Certificate.
January 10, 2024 | 8:36 am
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Alvotech, identified by the ticker ALVO, has been granted European Commission marketing authorization for Uzpruvo, a biosimilar to Stelara, in partnership with STADA. This approval is significant for Alvotech as it opens up the European market for Uzpruvo post-July 2024.
The marketing authorization of Uzpruvo in Europe is a significant milestone for Alvotech, likely to have a positive impact on the company's stock in the short term. Investors may view this approval as a strong indicator of the company's potential to generate revenue in the European biosimilar market once Stelara's SPC expires.
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