Market Performance - U.S. equity markets ended positively, with the Dow Jones up 69.54 points (0.15%) to 47,591.66, the S&P 500 gaining 21.48 points (0.31%) to 6,843.82, and the Nasdaq Composite rising 165.60 points (0.70%) to 23,746.74 [2][9] Pharmaceutical Developments - Pfizer received early clearance from the U.S. Federal Trade Commission for its $4.9 billion acquisition of Metsera, aimed at enhancing its pipeline in the obesity and cardiometabolic disease market [3][9] - Johnson & Johnson submitted a supplemental Biologics License Application to the U.S. FDA for Stelara® to treat pediatric patients with moderately to severely active ulcerative colitis, potentially expanding its market [4][9] Economic Outlook and Cryptocurrency - The International Monetary Fund projects U.S. economic growth of 2.0% in 2025, indicating a stable economic outlook [5][9] - Goldman Sachs reports that cryptocurrency now constitutes 1% of the world's total investing portfolio, reflecting its growing integration into mainstream investment strategies [5][9] - Concerns arise as a federal prosecutor alleges that Bitcoin ATMs are being used for cryptocurrency scams, highlighting regulatory challenges in the crypto market [6][9] Energy Policy - The White House has removed the Atlantic from its future oil lease plans, indicating a shift in federal energy policy that may affect offshore oil and gas development along the U.S. East Coast [7][9]

Core Insights - Teva Pharmaceuticals and Alvotech announced FDA approval for SELARSDI™ (ustekinumab-aekn) as interchangeable with Stelara® (ustekinumab), effective April 30, 2025, for various conditions including psoriatic arthritis and Crohn's disease [1][7][8] Company Developments - The approval of SELARSDI is seen as a significant advancement for patient access to affordable treatment options, aligning with Teva's strategy to lead in the biosimilars market [2][4] - Teva has launched two biosimilars, SELARSDI and EPYSQLI, and has a robust pipeline of additional biosimilars expected to launch in the coming years [2][4] - Alvotech is expanding its portfolio with two approved biosimilars in the U.S. and three additional biosimilar candidates under FDA review, indicating a strong growth trajectory [2][6] Product Information - SELARSDI is available in multiple presentations, including 45 mg/0.5 mL and 90 mg/mL for subcutaneous injection, and 130 mg/26 mL for intravenous infusion [2][7] - The biosimilar targets the p40 protein, crucial for treating immune-mediated diseases, and is produced using the same cell line and process as Stelara® [3][7] Strategic Partnerships - Teva and Alvotech have a strategic partnership for the exclusive commercialization of biosimilars, which has been extended to include additional products and presentations [4][5] - The partnership allows Teva to leverage its extensive sales and marketing infrastructure while Alvotech manages development and manufacturing [4][5] Market Context - The approval of SELARSDI and other biosimilars is part of a broader trend towards increasing access to biologic treatments, which is essential for lowering healthcare costs [2][4] - The FDA's approval of SELARSDI as interchangeable with Stelara® is expected to enhance competition in the biologics market, benefiting patients and healthcare providers [2][4]