Latest news with #'sLaboratories
Time of India
3 days ago
- Business
- Time of India
Dr Reddy's, Alvotech join hands to co-develop, manufacture & commercialise biosimilar of Merck's blockbuster drug Keytruda
Dr Reddy's, Alvotech join hands to co-develop, manufacture & commercialise biosimilar of Merck's blockbuster drug Keytruda HYDERABAD: Dr Reddy's Laboratories has entered into a collaboration and license agreement with Iceland-based biotech player Alvotech for the co-development, manufacturing and commercialiation of a biosimilar of Merck Sharp & Dohme's blockbuster drug Keytruda (pembrolizumab). Keytruda, which is used for the treatment of various types of cancer, clocked sales of over US$29.5 billion in 2024. The collaboration will combine Dr Reddy's and Alvotech's capabilities in biosimilars to speed up the development process and extend the global reach of the biosimilar candidate. As per the agreement, the two companies will share the costs and responsibilities for jointly developing and manufacturing the biosimilar candidate and subject to certain exceptions, each company will have the right to commercialise the product globally, Dr Reddy's said on Thursday. 'The 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 worldwide,' said Róbert Wessman, chairman & CEO, Alvotech. Dr Reddy's CEO, Erez Israeli, said the pact demonstrates the company's ability to develop and manufacture high-quality and affordable treatment options for patients worldwide. '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,' Israeli added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
3 days ago
- Business
- Business Standard
Dr Reddy's, Alvotech join hands to develop biosimilar for cancer treatment
Dr Reddy's Laboratories on Thursday said it has joined hands with global biotech firm Alvotech to co-develop and commercialise a biosimilar product for treating multiple types of cancer. The Hyderabad-based drug major has 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 Laboratories said in a statement. Keytruda (pembrolizumab) is indicated for the treatment of numerous cancer types. In 2024, worldwide sales of Keytruda were USD 29.5 billion. The collaboration combines Dr Reddy's and Alvotech's proven capabilities in biosimilars thereby speeding up the development process and extending the global reach for this biosimilar candidate, the company noted. "It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide," he added. Dr Reddy's shares were trading 3.49 per cent up at Rs 1,295.80 apiece on BSE.
Economic Times
3 days ago
- Business
- Economic Times
Dr Reddy's, Alvotech join hands to develop biosimilar for cancer treatment
Dr Reddy's (File Photo) Dr Reddy's Laboratories on Thursday said it has joined hands with global biotech firm Alvotech to co-develop and commercialise a biosimilar product for treating multiple types of cancer. The Hyderabad-based drug major has 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 Laboratories said in a statement. Keytruda (pembrolizumab) is indicated for the treatment of numerous cancer types. In 2024, worldwide sales of Keytruda were USD 29.5 billion. The collaboration combines Dr Reddy's and Alvotech's proven capabilities in biosimilars thereby speeding up the development process and extending the global reach for this biosimilar candidate, the company noted. Under the terms of the agreement, the parties will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities, it stated. Subject to certain exceptions, each party will have the right to commercialize the product globally, it added. "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," Dr Reddy's CEO Erez Israeli said. Alvotech chairman and CEO Robert Wessman said the agreement demonstrates Alvotech's ability to leverage its dedicated R&D and manufacturing platform for biosimilars, accelerating the expansion of its pipeline by pursuing growing global markets. "It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide," he added. Dr Reddy's shares were trading 3.49 per cent up at Rs 1,295.80 apiece on BSE.
India Today
3 days ago
- Business
- India Today
Dr Reddy's shares jump over 3% today. Here's why
Dr Reddy's Laboratories shares rose over 3% on Thursday, emerging as the top gainer on the Nifty Pharma index, which climbed 1.4%. Around 1:03 pm, the stock was up 3.39% at Rs 1, surge follows the announcement of a strategic partnership with US-listed biotech firm Alvotech to develop a biosimilar version of Merck's blockbuster cancer drug Keytruda (pembrolizumab). The PD-1 inhibitor, used to treat multiple cancer types, is expected to generate $29.5 billion in global sales in 2024, making it one of the most valuable targets in the biosimilars the agreement, Dr Reddy's and Alvotech will share development and manufacturing responsibilities and retain commercialisation rights globally, with a few Israeli, CEO of Dr Reddy's, called the deal a 'major step' in the company's oncology strategy. 'This collaboration enhances our capabilities in immuno-oncology and reinforces our focus on affordable, high-quality treatment options,' he which already markets biosimilars of Humira and Stelara, sees this partnership as a way to further leverage its R&D and manufacturing platform. 'This agreement demonstrates our ability to accelerate development of key biosimilars,' said chairman and CEO Rbert market has reacted positively to the development. While Dr Reddy's shares are down 5.3% on a year-to-date basis, they have gained 10.5% in the past month. Analysts see the move as a strategic bet to boost the company's global presence in the competitive biosimilar Direct described the Keytruda biosimilar as a 'decent pipeline opportunity' despite expected competition. At a forward 12-month PE of 18.8, Dr Reddy's remains the third-cheapest stock on the Nifty Pharma oncology being a core focus area and biosimilars gaining momentum globally, the collaboration with Alvotech marks a critical step in Dr Reddy's long-term growth The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
Time of India
25-05-2025
- Business
- Time of India
Dr Reddy's gets 2 observations from USFDA for Telangana API plant
Dr Reddy's Laboratories has received Form 483 with two observations after the US health regulator inspected its API manufacturing plant in Telangana. The US Food & Drug Administration ( USFDA ) completed a GMP inspection at the company's API (active pharmaceutical ingredients) manufacturing facility (CTO-5) in Miryalaguda, Telangana, the Hyderabad-based drug maker said in late evening filing on Saturday. The USFDA inspected the plant from May 19 to May 24, 2025, it added. "We have been issued a Form 483 with 2 observations, which we will address within the stipulated timeline," Dr Reddy's Laboratories said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo As per USFDA, Form 483 is issued to a firm's management after an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
