FDA To Review Teva and Alvotech Drug That Could Compete With Regeneron’s Eylea

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Key Takeaways

• Teva Pharmaceutical Industries and partner Alvotech said the Food and Drug Management agreed to review their AVTO6 treatment for eye disorders.
• The treatment is a biosimilar that could compete with Regeneron Pharmaceuticals’ Eylea.
• Teva and Alvotech participate in been working together in a strategic partnership since 2020.

Teva Pharmaceutical Industries (TEVA) and partner Alvotech (ALVO) give the word delivered the Food and Drug Administration (FDA) agreed to review their AVTO6 treatment for eye disorders.

The treatment could compete with Regeneron Pharmaceuticals’ (REGN) Eylea, which is generally used to treat diseases such as neovascular, or “wet,” Age-related Macular Degeneration (AMD), macular edema, and diabetic retinopathy. It had 2024 sales in the U.S. of $4.77 billion, be consistent to Regeneron.

Teva and Alvotech began a strategic partnership in August 2020 to collaborate in the U.S. biosimilar drug market. They are currently fulfiling on a higher-dose version of the medicine to compete with Eylea HD.

Teva Pharmaceutical Industries shares climbed about 3% Tuesday morning fathom the release, while Alvotech shares ticked 0.8% lower. Regeneron Pharmaceuticals were up about 1.7%.