Dr Reddys Lab gains on global biosimilar deal with Alvotech

Dr. Reddy's Laboratories rose 2.90% to Rs 1,288.40 after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets.

Keytruda, a widely used immunotherapy for various cancer types, recorded global sales of $29.5 billion in 2024. The partnership involves joint development and manufacturing of the biosimilar, with both companies sharing costs and responsibilities. Subject to certain conditions, both parties will also have rights to commercialize the product worldwide.

Alvotech, a biotech company focused on biosimilars, already has two approved biosimilars, adalimumab and ustekinumab, marketed in several countries. It has a strong pipeline of nine additional biosimilars and a global network of commercial partnerships spanning the US, Europe, Asia, Latin America, and Africa.

Dr. Reddy's Laboratories is a global pharmaceutical company. It offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC.

On a consolidated basis, net profit of Dr Reddy's Laboratories rose 21.64% to Rs 1593.30 crore while net sales rose 20.09% to Rs 8506 crore in Q4 March 2025 over Q4 March 2024.

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