Alvotech's stock soared 7.36% during intraday trading on Monday, following a positive regulatory update from the U.S. Food and Drug Administration.

The surge comes after the company announced the FDA has completed a routine cGMP surveillance inspection of its manufacturing facility in Reykjavik, Iceland. The regulatory body concluded the inspection and issued a Form 483, but Alvotech stated the observations can be addressed quickly and do not raise any substantial issues with the site's operations.

This successful inspection outcome is a critical milestone, as it positions Alvotech to resubmit its relevant Biologics License Applications for biosimilar medicines in the current quarter. The company continues to expect FDA approval for these applications during 2026, significantly de-risking its product pipeline and advancing its commercial prospects in the United States.