Dr. Reddy's Laboratories Limited has informed the Exchange regarding a press release dated Jun 05, 2025, titled "Alvotech and Dr. Reddy s enter into Collaboration toCo-Develop Biosimilar Candidate to Keytruda� (pembrolizumab) for global markets.".
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Dr. Reddy's Laboratories has entered into a collaboration and license agreement with Alvotech (Nasdaq-listed biotech) to co-develop, manufacture, and commercialize a biosimilar candidate of Keytruda (pembrolizumab), a blockbuster cancer immunotherapy drug. Keytruda generated worldwide sales of US$29.5 billion in 2024, making it one of the world's top-selling medicines. Both companies will share development, manufacturing costs, and responsibilities, with each party having the right to commercialize the product globally subject to certain exceptions. The deal combines both firms' biosimilars capabilities and aims to speed up development and extend global reach for this candidate. The collaboration strengthens Dr. Reddy's oncology biosimilars pipeline, which already includes six commercial biosimilar products in India and several in global development.
This is a marquee partnership that positions Dr. Reddy's in the high-value immuno-oncology biosimilar space alongside an established global partner, potentially boosting long-term growth and pipeline value. However, commercial benefits remain several years away and depend on successful development, clinical trials, and regulatory approvals.