TEVA - Why Is Generic Drugs Player Teva Pharma Stock Trading Higher Today? | Benzinga
Friday, Alvotech (NASDAQ:ALVO) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd (NYSE:TEVA), announced the FDA approved Simlandi (adalimumab-ryvk) injection, as an interchangeable biosimilar to AbbVie Inc’s (NYSE:ABBV) Humira.
The biosimilar is indicated for adult rheumatoid arthritis, juvenile idiopathic arthritis, adult psoriatic arthritis, adult ankylosing spondylitis, Crohn’s disease, adult ulcerative colitis, adult plaque psoriasis, adult hidradenitis suppurativa, and adult uveitis.
In 2023, Humira was one of the highest-grossing pharmaceutical products in the world, with sales in the U.S. of nearly $12.2 billion.
Teva is Alvotech’s strategic partner for the exclusive commercialization of Simlandi in the United States.