Law Offices of Howard G. Smith announces an investigation on behalf of Alvotech (“Alvotech” or the “Company”) (NASDAQ: ALVO) investors concerning the Company’s possible violations of federal securities laws.
On April 13, 2023, Alvotech disclosed that it received communication from the U.S. Food and Drug Administration (“FDA”) regarding the FDA’s March 2022 inspection of Alvotech’s manufacturing facility in Reykjavik, Iceland. According to Alvotech, the FDA noted certain deficiencies related to the Reykjavik facility and stated that satisfactory resolution of the deficiencies is required before the FDA can approve the Company’s Biologics License Application (BLA) for AVT02
On this news, Alvotech’s stock price fell $3.03, or 22.1%, to close at $10.66 per share on April 14, 2023, thereby injuring investors.
If you purchased Alvotech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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