Alvotech Receives EU Marketing Authorization for AVT03, a Biosimilar to Prolia and Xgeva

Alvotech has received marketing authorization in Europe for AVT03, a biosimilar of Prolia and Xgeva, which contain the active ingredient denosumab. The biosimilar is used to treat bone loss and osteoporosis, and has a market value of approximately $150 million in the last 12 months. The company plans to increase access to these medications by offering a lower-cost alternative. The biosimilar will be marketed by Alvotech's partners STADA and Dr. Reddy's Laboratories.