Full Press Release Details
BOSTON, May 03, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Alvotech (NASDAQ: ALVO) for potential securities law violations. Investors who have lost money in their Alvotech investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/alvo.
What is this all about?
On April 13, 2023, after the market closed, “Teva Pharmaceutical Industries Ltd. (TEVA) announced that the U.S. Food and Drug Administration (FDA) has issued a complete response letter (CRL) to its partner Alvotech (ALVO) for the Biologics License Application (BLA) for AVT02, a high-concentration biosimilar candidate for Humira® (adalimumab). The CRL stated that the application could not be approved at this time based on deficiencies associated with Alvotech’s manufacturing facility that must be satisfactorily resolved. Additional review of the details following the recent FDA’s re-inspection and CRL are being assessed to determine next steps.”
Shares of Alvotech dropped more than 20% in early morning trading on April 14, 2023.
Anyone who purchased Alvotech stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms may issue press releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
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Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
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Complete Response Letter