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Alvotech jumps on FDA approval of manufacturing process for biosimilar

By Reuters News12:49 (UTC), 20 October 2026 Updated

** Biotech company Alvotech's ALVO.O shares rise 8.4% to $5.45 premarket

** Co says FDA approves new manufacturing process, SIMLANDI, that doubles output per batch

** SIMLANDI is co's biosimilar to AbbVie’s Humira, a drug used to treat inflammatory conditions such as rheumatoid arthritis and Crohn's disease

** Co says SIMLANDI more than doubles drug substance output per batch without changing the upstream manufacturing scale

** 6 of 7 brokerages rate stock "buy" or higher and 1 "hold"; median PT $8 - data compiled by LSEG

** As of last close, ALVO down 2% YTD, compared to the Nasdaq Biotechnology Index's .NBI 20.7% rise

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