The FDA decision on Alvotech’s (ALVO) AVT02, proposed as an interchangeable to high concentration of AbbVie’s Humira, is expected on April 13, 2023.AVT02 is a monoclonal antibody and is approved as a biosimilar to Humira in the 27 EU member countries, Norway, Lichtenstein, Iceland, the UK, Switzerland, Canada, Australia and Saudi Arabia. Presently, it is being marketed in sixteen European countries and Canada.Humira is indicated for the treatment of plaque psoriasis, rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, psoriasis, juvenile idiopathic arthritis, ulcerative colitis, hidradenitis suppurativa, and certain types of uveitis.ALVO closed Thursday’s trading at $13.01, up 0.23%.