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News  ›  Benzinga

Alvotech Shares Plunge 33% After FDA Flags Issues

Benzinga Logo Benzinga By Vandana Singh
Alvotech Shares Plunge 33% After FDA Flags Issues

Biotech company Alvotech received a complete response letter from the FDA for its biosimilar drug AVT05, citing manufacturing facility deficiencies. The company's stock dropped significantly, and it revised its 2025 revenue and EBITDA projections downward.

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ALVO   negative

Stock plunged 33%, received FDA complete response letter, lowered financial projections, and must resolve manufacturing facility issues