05:20 AM EDT, 10/06/2025 (MT Newswires) -- Alvotech ( ALVO ) and Advanz Pharma said Monday that the European Medicines Agency has accepted a marketing authorization application for AVT23, a proposed biosimilar to Xolair, or omalizumab, a drug used to control allergy-related asthma.

The drug is also used to treat long-term itchy rash and inflamed lining of the nose and sinuses with swellings in the nose, the companies said.

Alvotech ( ALVO ) developed AVT23, an investigational drug, in collaboration with Kashiv BioSciences, while Advanz Pharma has licensed commercial rights for the drug in the European Economic Area, Switzerland, Canada, Australia, New Zealand, and the UK, which accepted a marketing authorization application for the drug earlier this year, the companies said.