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

Core Insights - Teva Pharmaceutical Industries and partner Alvotech announced that the FDA has agreed to review their AVTO6 treatment for eye disorders, which is a biosimilar that could compete with Regeneron Pharmaceuticals' Eylea [1][3] - Eylea, which is used to treat conditions such as wet Age-related Macular Degeneration, had projected U.S. sales of $4.77 billion in 2024 [1] - Teva and Alvotech have been in a strategic partnership since August 2020, focusing on the U.S. biosimilar drug market and are developing a higher-dose version of the treatment to compete with Eylea HD [2][3] Market Reaction - Following the announcement, Teva's shares increased by approximately 3%, while Alvotech's shares decreased by 0.8% [2] - Regeneron Pharmaceuticals' shares rose by about 1.7% in response to the news [2]