BUZZ-Alvotech rises as UK clears new arthritis drug

Reuters11-06
BUZZ-<a href="https://laohu8.com/S/ALVO">Alvotech</a> rises as UK clears new arthritis drug

** Shares of biotech firm Alvotech ALVO.O rise 2.4% to $5 during early trading

** ALVO, along with private co Advanz Pharma, says UK medicines regulator has approved Gobivaz, a biosimilar to Johnson & Johnson's JNJ.N Simponi for immune-related conditions including rheumatoid arthritis and ulcerative colitis

** Gobivaz will be available in two strengths and in both pre-filled syringe and autoinjector formats, co says

** Alvotech develops and supplies the drug, while Advanz Pharma holds exclusive rights to market it in Europe and UK, says ALVO

** Including session's move, stock down ~63%

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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