Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Alvotech (“Alvotech” or the “Company”) (NASDAQ: ALVO). Investors who purchased Alvotech securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Alvotech has violated federal securities laws.
On April 13, 2023, Alvotech issued a press release “announc[ing] . . . that the U.S. Food and Drug Administration (FDA) has issued a complete response letter (CRL) for Alvotech’s Biologics License Application (BLA) for AVT02, a high-concentration biosimilar candidate for Humira® (adalimumab). The CRL noted that certain deficiencies, which were conveyed following the FDA’s reinspection of the company’s Reykjavik facility that concluded on March 17, 2023, must be satisfactorily resolved before the application can be approved.” On this news, Alvotech’s stock price fell sharply during intraday trading on April 14, 2023.
If you are aware of any facts relating to this investigation or purchased Alvotech shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.