Alvotech wins EC nod for denosumab biosimilar AVT03 in Europe

Alvotech received European Commission's approval for AVT03, a biosimilar to Amgen Prolia and Xgeva, both denosumab-based drugs used for osteoporosis and cancer-related bone complications. The European denosumab market is worth about $1.2 billion. Alvotech will commercialise AVT03 in the region through partnerships with STADA and Dr Reddy's.