Alvotech and Dr Reddy’s Laboratories announced today they have entered a collaboration agreement to co-develop, manufacture and commercialise a biosimilar candidate to Keytruda (pembrolizumab) for global markets. The partnership targets one of the world’s largest cancer treatment markets, with Keytruda generating $29.5 billion in worldwide sales in 2024.
The shares of Dr Reddy’s Laboratories were trading at ₹1,285 up by ₹33.10 or 2.64 per cent on the NSE today at 10.25 am.
Under the agreement, both companies will jointly share development and manufacturing costs and responsibilities. Each party will have global commercialisation rights, subject to certain exceptions. The collaboration combines the proven biosimilar capabilities of both firms to accelerate development and expand global reach.
Keytruda is indicated for treating numerous cancer types and represents one of the most critical therapies in immuno-oncology. The biosimilar partnership aligns with Dr Reddy’s focus on oncology as a priority therapeutic area.
“This agreement demonstrates Alvotech’s ability to leverage its dedicated R&D and manufacturing platform for biosimilars, accelerating the expansion of our pipeline,” said Róbert Wessman, Alvotech’s chairman and CEO.
Dr Reddy’s CEO Erez Israeli said the collaboration demonstrates their ability to develop high-quality, affordable treatment options for patients worldwide while enhancing their oncology capabilities.
Iceland-based Alvotech specialises in biosimilar development and manufacturing, while India-headquartered Dr Reddy’s is a global pharmaceutical company with over 25 years of biologics experience and six commercial biosimilar products currently marketed.