Latest news with #ErezIsraeli
Time of India
4 days ago
- Business
- Time of India
Dr Reddy's, Alvotech to co-develop Keytruda biosimilar
Dr. Reddy's Laboratories and Alvotech are collaborating to develop, manufacture, and commercialize a biosimilar version of Keytruda, a highly successful cancer drug. This partnership aims to provide more affordable treatment options globally as Merck's patents begin to expire around 2028. The collaboration will enhance Dr. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Dr Reddy's Laboratories has entered into a collaboration with Reykjavik, Ireland-based biotech company Alvotech to co-develop, manufacture and commercialise a biosimilar version of blockbuster cancer drug Keytruda for the global (generic name is pembrolizumab ), manufactured and marketed by Merck & Co , is the most successful medicine, recording worldwide sales of $29.5 billion in 2024. It is used to treat multiple forms of the terms of the agreement, both companies will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities, Hyderabad-based DRL said in a statement on to certain exceptions, each party will have the right to commercialise the product traditional generics, which often face automatic patent infringement claims, biosimilars are developed more like original drugs, complete with clinical trials and patent disclosures, giving them a better chance of overcoming legal challenges. Also, Merck's core patents on pembrolizumab in the US are expected to start expiring around 2028.'This (collaboration) demonstrates our ability to develop and manufacture high quality and affordable treatment options for patients worldwide,' Erez Israeli, chief executive of DRL, said.Róbert Wessman, chairman and CEO of Alvotech, said, 'The agreement enables us to increase the availability of cost-effective, critical biologic medications to patients worldwide.'Keytruda is approved in the US to treat 40 cancers, unlike most medicines that treat a few indications or medical India, it is approved for use in 17 indications across 10 cancers or tumour types. Oncologists mostly prescribe it to treat certain types of lung cancers, followed by gastrointestinal cancer, triple-negative breast cancer and head and neck helps the body's immune system, which is the T-cells, to detect and fight cancer cells that hide and spread in organs.'Oncology has been a top focus therapy area for us, and this collaboration will enhance our capabilities in oncology, as pembrolizumab currently represents one of the most critical therapies in immuno-oncology ,' Israeli has been out of reach for most patients in India due to its exorbitant cost – roughly about Rs 2 lakhs for each dose. However, with Merck's patent set to expire in a few years and with Indian drug manufacturers looking to come up with more affordable versions of the drug it may play a crucial role in widening adoption across a larger cohort of patients.
The Hindu
09-05-2025
- Business
- The Hindu
Dr. Reddy's open to manufacturing in the U.S. to sidestep tariff
Generic drugmaker Dr. Reddy's Laboratories is open to manufacturing in the U.S., including through acquisitions, if such a need remains, CEO Erez Israeli said on Friday. 'It is a very important market for us... we are ready for any option,' he said to media queries on whether local manufacturing will be evaluated as a measure to avoid the reciprocal tariff on pharma the U.S. is considering. Underscoring the need for clarity, with India and the U.S. discussing the tariffs, said Dr. Reddy's on the back of its strong balance sheet is always looking for opportunity to grow inorganically. 'But at this stage we do not see a viable opportunity,' he said, adding the company decided to shut down its Shreveport manufacturing unit in Louisiana as the facility did not serve the needs in terms of products and activities. 'We will love to make products in United States but not in that specific site,' he said. Dr. Reddy's has one more facility in the New York area, which is a niche plant for hormones. Future investment will depend on how the tariffs issue evolve. For now the priority of the company is to work closely with the customers and create relevant inventory, service orders and everything required to give a good service. Q4 net up 22% The Hyderabad-headquartered pharma major reported March quarter net profit rose 22% to ₹1,593.3 crore (₹1,309.8 crore). Revenue from operations increased 19.88% to ₹8,528.4 crore (₹7,113.8 crore) on all round performance. For 2024-25, net profit increased 1.38% to ₹5,655.1 crore (₹5,577.9 crore). Revenue from Operations increased to ₹32,643.9 crore (₹28,011.1 crore).
&w=3840&q=100)
Business Standard
09-05-2025
- Business
- Business Standard
Dr Reddy's Q4 results: Profit rises 22% to ₹1,594 crore on record revenue
Hyderabad-based Dr Reddy's Laboratories (DRL) posted a 22 per cent year-on-year rise in consolidated profit after tax for the fourth quarter of 2024–25 to ₹1,593.9 crore, as revenues rose 20 per cent to ₹8,506 crore. The Ebitda for the quarter stood at ₹2,474.9 crore, or 29 per cent of revenues. DRL's stock was up 0.67 per cent in Friday's trade on the BSE. This marked the company's highest-ever quarterly revenues and profits in a fourth quarter. Sequentially, revenues were up 2 per cent, while PAT rose 13 per cent. Gross margins for the quarter came in at 55.6 per cent, lower by around 300 basis points compared to both Q3FY25 and Q4FY24. For the full year, PAT was ₹5,654.4 crore, up 2 per cent, as revenue grew 17 per cent to ₹32,553.5 crore. The Ebitda for the year came in at ₹9,213.3 crore, or 28.3 per cent of revenues. The company said that underlying revenue growth, excluding the Nicotine Replacement Therapy (NRT) business, was 12 per cent year-on-year. DRL had acquired Haleon's global NRT business (excluding the US), and the deal was completed last year. 'The performance was driven by contributions from the acquired NRT business, complemented by steady growth across our core businesses—Global Generics and Pharmaceutical Services and Active Ingredients (PSAI),' it said. The capital expenditure for the full fiscal was ₹2,699 crore, up from ₹1,517 crore in FY24. Research and development (R&D) expenses for the quarter were 8.5 per cent of revenues, down from 9.7 per cent in Q4FY24. Co-chairman and managing director G V Prasad said: 'We achieved double-digit growth across our businesses, driven by successful product launches, increased revenues from key products in the US and the integration of the acquired NRT business. We will continue to strengthen and grow our core businesses through portfolio management and operational excellence, while pursuing strategic partnerships and inorganic growth opportunities.' The global generics business grew by 23 per cent during the quarter, with North America rising 9 per cent. The European generics business reported strong performance at ₹1,275 crore, up 145 per cent, including ₹597.1 crore in revenues from the NRT business for Q4FY25. The company said underlying growth for Europe, excluding the NRT business, was 30 per cent year-on-year. The company noted that price erosion remained stable for mature products in the US, where DRL grew 3.9 per cent, slightly ahead of the generic market's 3.8 per cent growth. It also divested its Shreveport manufacturing facility in Louisiana during the quarter. DRL chief executive officer Erez Israeli told reporters that the company is open to maintaining a manufacturing footprint in the US, but there is nothing concrete at the moment. The generics businesses in India and emerging markets grew by 16 per cent each. The PSAI business also grew by 16 per cent during the quarter. DRL launched 23 brands in India in FY25 and also participated in the Government of India's Jan Aushadhi programme with one of its products.
