** Alvotech ALVO.O up 5.4% and US shares of Teva Pharmaceuticals TEVA.TA dipping 1.2% on Fri after the partner cos said they launched a biosimilar to Johnson & Johnson's JNJ.N Stelara in the US

** Launch marks the second biosimilar to blockbuster autoimmune drug Stelara following Amgen's AMGN.O Wezlana in Jan, with Biocon Biologics BIOC.NS and Fresenius Kabi FRES.M3 expected to follow soon ** UBS analyst sees launch as a success path for future biosimilars; forecasts global sales of $390 mln by 2028 ** ALVO's stock has fallen about 7% YTD, while TEVA is down 24%

(Reporting by Noel Randewich)

((noel.randewich@tr.com;))