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News  ›  GlobeNewswire Inc.

Scott+Scott Attorneys at Law LLP Alerts Investors of Its Investigation into Alvotech (NASDAQ: ALVO)

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Scott+Scott Attorneys At Law Llp
Scott+Scott Attorneys at Law LLP Alerts Investors of Its Investigation into Alvotech (NASDAQ: ALVO)

Alvotech received a complete response letter from the FDA for its biosimilar candidate AVT05, indicating manufacturing facility deficiencies that must be resolved before approval. The stock price dropped 34% following the announcement.

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ALVO   negative

FDA issued a complete response letter requiring resolution of manufacturing facility deficiencies, which caused a significant 34% stock price drop and signals potential delays in product approval