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Bank of America Backs Alvotech’s Launch | Durham News
Bank of America is bullish on Alvotech, giving it a “Buy” rating and a $7 price target, calling it a major turning point after years of platform-building. The bank sees real revenue growth ahead as Alvotech launches biosimilar drugs — cheaper, equally effective alternatives to pricey treatments like Simponi and Eylea — targeting conditions such as Crohn’s and eye diseases. A key boost: the FDA gave Alvotech’s Icelandic facility a positive inspection, clearing the way for more approvals. The strategy focuses on provider-administered drugs to dodge pharmacy competition, and with existing…
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