Dr Reddy’s Laboratories announced that it has partnered with Alvotech, a global biotech firm focused on biosimilar medicines. The two companies have entered into a collaboration and license agreement to co-develop, manufacture, and sell a biosimilar version of Keytruda (pembrolizumab), for global markets.
Keytruda is indicated for the treatment of numerous cancer types. In 2024, it generated $29.5 billion in sales globally. The collaboration is aimed towards combining Dr Reddy’s and Alvotech’s capabilities in biosimilars and speed up the development process and extending the global reach for this biosimilar candidate.
Under the terms of the agreement, the parties will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities. Subject to certain exceptions, the company informed the exchanges, each party will have the right to commercialize the product globally
Róbert Wessman, Chairman and CEO of Alvotech, said, “This agreement demonstrates Alvotech’s ability to leverage its dedicated R&D and manufacturing platform for biosimilars, accelerating the expansion of our pipeline by pursuing growing global markets. It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide.”
Erez Israeli, CEO of Dr Reddy’s, said, “Oncology has been a top focus therapy area for us and this collaboration will further enhance our capabilities in oncology, as pembrolizumab currently represents one of the most critical therapies in immuno-oncology.”
Shares of Dr Reddy’s were up 2.68 per cent at 10:20 am at a trading price of Rs 1,285.70.