Dr. Reddy's shares rise over 1% on strategic collaboration with Alvotech for Keytruda Biosimilar
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Shares of Dr. Reddy's Laboratories rose 1.4% to touch the day's high of Rs 1,307.65 on the BSE on Friday, June 6, after the company announced a strategic collaboration with Alvotech , a global biotech firm, to co-develop and commercialize a biosimilar candidate to Keytruda ( pembrolizumab ) for global markets.'Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines, and Dr. Reddy's Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY, along with its subsidiaries hereafter referred to as 'Dr. Reddy's'), today announced that the companies have entered into a collaboration and license agreement to co-develop, manufacture, and commercialize a biosimilar candidate to Keytruda (pembrolizumab) for global markets,' Dr. Reddy's said in an exchange filing.Keytruda, a leading immunotherapy drug used in the treatment of various cancers, generated $29.5 billion in global sales in 2024, making it one of the most valuable targets in the biosimilars market.This partnership represents a significant opportunity for Dr. Reddy's to enter the high-value biosimilar segment for oncology drugs, a category that continues to witness growing demand and heightened competitive activity.Under the agreement, both parties will jointly develop and manufacture the biosimilar, sharing costs and responsibilities. Importantly, each company will retain the right to commercialize the product globally, subject to certain exceptions.The deal is expected to accelerate development timelines and expand the global market reach of the biosimilar.Róbert Wessman, Chairman and CEO of Alvotech, emphasized that the agreement will help deliver cost-effective, critical biologic medicines to patients worldwide by combining Dr. Reddy's commercial strength with Alvotech's R&D and manufacturing expertise.With this collaboration, Dr. Reddy's further strengthens its pipeline in the biosimilars segment.'We are pleased to collaborate with Alvotech on the pembrolizumab biosimilar. This demonstrates our ability to develop and manufacture high-quality, affordable treatment options for patients across the world. Oncology has been a key focus area for us, and this collaboration will enhance our capabilities in this domain, as pembrolizumab represents one of the most critical therapies in immuno-oncology,' said Erez Israeli, CEO of Dr. Reddy's.Dr. Reddy's Laboratories shares ended Thursday's session higher by 3% at Rs 1,289.90 on BSE.
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