Latest news with #Dr.Reddy'sLaboratories
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Business Standard
2 hours ago
- Business
- Business Standard
Dr Reddy's Labs rallies 4%, hits over four-month high; here's why
Share price of Dr. Reddy's Laboratories today Shares of Dr. Reddy's Laboratories hit an over four-month high at ₹1,301.70, as they rallied 4 per cent on the BSE in Thursday's intra-day trade after the pharma company and Alvotech entered into a collaboration and license agreement to co-develop, manufacture and commercialize a biosimilar candidate to Keytruda (pembrolizumab) for global markets. At 09:24 AM; the stock was trading 3.8 per cent higher at ₹1,300.10, as compared to 0.17 per cent rise in the BSE Sensex. The counter saw huge trading volume, with a combined 700,000 shares changing hands on the NSE and BSE. Currently, the stock trades at its highest level since January 2025. It had hit a 52-week high of ₹1,420.20 on August 21, 2024. Meanwhile, in the past one month, Dr. Reddy's has outperformed the market by surging 11 per cent. In comparison, the BSE Sensex was up 0.6 per cent and BSE Healthcare index gained 1.6 per cent during the same period. What's fuelling the 4% rally in Dr. Reddy's stock price? Alvotech, a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, and Dr. Reddy's Laboratories, along with its subsidiaries, 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. Keytruda (pembrolizumab) is indicated for the treatment of numerous cancer types. In 2024, worldwide sales of Keytruda were $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. Under the terms of the agreement, the parties will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities. Subject to certain exceptions, each party will have the right to commercialize the product globally. Catch Stock Market Updates Today LIVE JM Financial Institutional Securities views on Dr Reddy's post Q4 results Analysts at JM Financial Institutional Securities maintain a 'BUY' rating on Dr. Reddy's Labs with a target price of ₹1,418. The brokerage firm expects the FY26 topline to grow at 23 per cent with Earnings before interest, taxes, depreciation and amortisation (EBITDA) margins to remain at similar levels as FY25. Analysts said they revised FY26E topline upwards by 8 per cent on account of expected Revlimid sales being greater than those earlier anticipated. Beyond FY26, Semaglutide and Biosimilars (including Abatacept) are expected to drive business performance. Dr. Reddy's plans to be present in all Semaglutide markets losing exclusivity in CY26, while Abatacept is scheduled for launch in CY27. 'We believe the street is underestimating the Semaglutide opportunity for Dr. Reddy's. While it may not fully replace Revlimid sales, it could substantially mitigate the earnings decline in FY27. Though Canada, Brazil, India and China are the key Sema markets losing protection in CY26, a number of Emerging Market countries too are going off patent and thus we have increased our FY27E sales by 5 per cent leading to a 6 per cent increase in FY27E EBITDA,' JM Financial Institutional Securities said in the Q4 result note. Further, Indian Pharma companies are entering lower earnings growth phase post FY26, thus the brokerage firm said they have reduced the 1 year forward P/E multiple by 19 per cent to 21x. At a 21x PE on FY27 EPS, the stock remains attractive compared to peers. About Dr. Reddy's Laboratories Dr. Reddy's Laboratories is a global pharmaceutical company headquartered in Hyderabad, India. Driven by the company's purpose of 'Good Health Can't Wait', the company offers a portfolio of products and services including active pharmaceutical ingredients (APIs), generics, branded generics, biosimilars and OTC. Dr Reddy's major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. The company's major markets include - the US, India, Russia & CIS countries, China, Brazil, and Europe.
Business Standard
2 hours ago
- Business
- Business Standard
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.
Mint
3 hours ago
- Business
- Mint
LIC raises stake in Dr. Reddy's Laboratories to 8.21%. Details here
Dr. Reddy's Laboratories share price jumped over 4% on Thursday amid string buying momentum. Dr. Reddy's shares rallied as much as 4.09% to ₹ 1,303.45 apiece on the BSE. Life Insurance Corporation of India (LIC), the state-run insurance giant, has increased its stake in Dr. Reddy's Laboratories. A stock exchange filing showed that LIC bought 1.67 crore equity shares of Dr. Reddy's Laboratories, raising its shareholding in the pharma company to above 8%. LIC purchased 1,67,89,472 shares of Dr. Reddy's Laboratories, equivalent to 2.012% stake in the company, through open market purchase. The shares were acquired between 28 October 2024 to 3 June 2025. Prior to the transactions, LIC held 5,17,69,600 shares of Dr. Reddy's Laboratories, aggregating to 6.204% stake. With the latest purchase, LIC's now holds a total of 6,85,59,072 shares of Dr. Reddy's Laboratories, equivalent to 8.216% stake in the pharma company. Life Insurance Corporation of India (LIC) has steadily increased its stake in Dr. Reddy's Laboratories over the past three quarters. LIC's shareholding rose from 5.6% at the end of September 2024 to 6.5% by December 2024, and further to 7.19% as of March 2025, according to the latest shareholding pattern. Dr. Reddy's share price has seen a steady uptrend in recent months, with the stock gaining 10% in the past one month and 15% over three months. While the pharma stock is still down 6% year-to-date (YTD), it has delivered a 11% return over the past year. Over a longer horizon, Dr. Reddy's shares have surged 40% in two years and 60% in five years, reflecting consistent long-term performance. At 11:50 AM, Dr Reddy's share price was trading 3.20% higher at ₹ 1,292.25 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
4 hours ago
- Business
- Business Standard
Alvotech and Dr Reddy's enter into collaboration and license agreement for pembrolizumab
Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide (Alvotech), and Dr. Reddy's Laboratories 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. Keytruda (pembrolizumab) is indicated for the treatment of numerous cancer types. In 2024, worldwide sales of Keytruda were US$29.5 billion [1]. 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. Under the terms of the agreement, the parties will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities. Subject to certain exceptions, each party will have the right to commercialize the product globally.
Business Upturn
5 hours ago
- Business
- Business Upturn
Dr. Reddy's shares surge 4% after company partners with Alvotech to develop and commercialize Biosimilar to Keytruda
By Aman Shukla Published on June 5, 2025, 09:29 IST Shares of Dr. Reddy's Laboratories rose 4% in morning trade after the company announced a strategic collaboration with Alvotech, a global biotech firm specializing in biosimilars. The two companies will co-develop and manufacture a biosimilar version of Keytruda® (pembrolizumab), a blockbuster immunotherapy drug used to treat various cancers. Keytruda® generated global sales of US$29.5 billion in 2024, highlighting the significant market potential for its biosimilar version. Through this partnership, Dr. Reddy's and Alvotech aim to accelerate development timelines and expand access to affordable cancer treatments across international markets. As part of the agreement, both firms will jointly invest in R&D, manufacturing, and regulatory processes. Each partner retains global commercialization rights, with certain market exceptions, allowing for broad market reach while optimizing operational efficiency. Dr. Reddy's Laboratories shares opened at ₹1,264.20 and at the time of writing, surged to an intraday high of ₹1,303.40, matching the day's low at the opening price. The stock is trading near its 52-week high of ₹1,421.49, significantly above its 52-week low of ₹1,020.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
