09:04 AM EDT, 03/18/2025 (MT Newswires) -- Dr. Reddy's Laboratories (RDY) and Alvotech ( ALVO ) said Tuesday that the US Food and Drug Administration has accepted a biologic license application submission for AVT03, a proposed biosimilar of bone disease treatments Prolia and Xgeva.

Dr. Reddy's and Alvotech ( ALVO ) last year entered into a license and supply agreement for AVT03 under which Alvotech ( ALVO ) is responsible for the development and manufacturing of the drug, while Dr. Reddy's is responsible for registration and commercialization.

Alvotech ( ALVO ) shares were up more than 2% in premarket trading, while Dr. Reddy's was up 0.5%.