Latest news with #Iceland-based
Time of India
a day 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
a day ago
- Business
- Business Standard
Dr Reddy's, Alvotech to co-develop biosimilar of cancer drug Keytruda
Global biotech major Alvotech and Hyderabad-based Dr Reddy's Laboratories (DRL) have entered into a collaboration to co-develop, manufacture, and commercialise a biosimilar version of Merck's blockbuster cancer drug Keytruda (pembrolizumab), which recorded global sales of $29.5 billion in 2024. Shares of DRL rose 3 per cent on Thursday on the BSE following the announcement. Under the agreement, both parties will jointly manage development and manufacturing responsibilities, while sharing associated costs. Each company will also hold global commercialisation rights, subject to certain exceptions. Keytruda, developed by Merck & Co., is used to treat a wide range of cancers, including lung, melanoma, and head and neck cancers. With patents for Keytruda expected to expire in major markets over the next few years, competition among biosimilar developers is intensifying. The partnership is a strategic boost to Dr Reddy's oncology portfolio—a key therapeutic area for the company—and significantly expands Iceland-based Alvotech's biosimilar pipeline. The tie-up comes amid growing global demand for cost-effective biologic alternatives in cancer care, especially in immuno-oncology, where Keytruda remains a dominant therapy. 'We are happy to collaborate with Alvotech for the pembrolizumab biosimilar,' said Erez Israeli, CEO of Dr Reddy's. 'Oncology has been a top focus therapy area for us, and this collaboration further enhances our capabilities.' Alvotech Chairman and CEO Róbert Wessman said the partnership would accelerate development while broadening global access to critical biologics. 'This agreement demonstrates our ability to leverage our R&D and manufacturing platform to pursue growing global markets,' he said. Alvotech, listed on Nasdaq, is focused solely on biosimilars and already has approvals for adalimumab and ustekinumab biosimilars. Its pipeline includes candidates for autoimmune, respiratory, and oncologic indications. Dr Reddy's, which has commercialised six biosimilars in India and over 30 countries, has been scaling up global biologics operations. It launched its first biosimilar in the UK—Versavo (bevacizumab)—in 2024, and pegfilgrastim in the US and Europe through partners. With this collaboration, both companies aim to play a larger role in shaping the next phase of affordable cancer care globally.
New Indian Express
2 days ago
- Business
- New Indian Express
Dr Reddy's–Alvotech deal: Why investors are bullish
CHENNAI: Shares of Dr Reddy's Laboratories surged over 3% in early trade on Thursday after the Indian drug maker announced a global licensing agreement with Alvotech, an Iceland-based biopharmaceutical company. Under this agreement, the two firms will codevelop, manufacture, and commercialise a biosimilar candidate to Keytruda (called as pembrolizumab by the biological name) — a blockbuster cancer immunotherapy drug originally developed by the US pharma major Merck & Co., also known as MSD Pharmaceuticals outside US. Keytruda, prescribed for the treatment of various cancers including melanoma, non-small cell lung cancer, and head and neck cancers, in adults and children, is one of the most sold drugs of Merck from its original research. According to Merck's 2024 sales data, this drug alone contributed over $29.5 billion in revenue for the company, which also makes it one of the world's top-selling drugs. This drug is in demand as it is used in advanced, metastatic, or recurrent cancers that are not responding to other treatments or cannot be removed by surgery. Keytruda can also be used to prevent cancer recurrence after surgery. A biosimilar is a generic equivalent of a biological drug. In this case, the biosimilar -- pembrolizumab-- can enter the market once Merck's patent is expired. There are several drug firms work on this bio-molecule currently worldwide, and Alvotech is one of the frontrunners. The licensing deal signed between Dr Reddy's and Alvotech marks a strategic expansion of the former's biosimilars pipeline, aligning with the company's ambition to build a strong presence in the global oncology space.
Business Standard
2 days 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.
New York Post
3 days ago
- Entertainment
- New York Post
We did our gender reveal at 30,000 feet with complete strangers — it was the best decision of our lives
These expecting parents pulled off their epic gender reveal with flying colors. Temporarily turning the friendly skies pink and blue, a couple, Katrín María Blöndal, 24, and Anton Örn Hilmarsson, 27, hosted a celebration — attended by complete strangers — to toast their incoming infant during a flight to Paris. 'This might be the first time in history that someone finds out the gender of their baby somewhere over the North Atlantic,' a flight attendant with Iceland's PLAY Airlines announced to a cabin full of excited passengers-turned-partygoers. Advertisement 4 An expectant mother and father, Katrín María Blöndal and Anton Örn Hilmarsson (above), learned the gender of their unborn baby with an in-flight party on Play Airlines. PLAY airlines Air travelers held up small pink or blue cards, indicating their best guesses on the baby's gender, per Instagram footage of the super-fly fête. Katrín and Anton, from Reykjavik, Iceland, then made their way to the front of the plane, where a customized cake, topped with decorative baby elephants and edible pearls, and Champagne flutes were waiting. Advertisement The pair, already parents of two young sons and a daughter from previous relationships, used the glasses to scoop into the confection, which boasted a thick layer of blue frosting — revealing that their little love-to-be is a boy. 4 Passengers on the PLAY Airlines flight to Paris helped the lovebirds celebrate their baby-to-be by guessing its gender before the big reveal. PLAY airlines 4 The Iceland-based duo discovered that they were having a boy, as revealed by a custom-made cake. PLAY airlines 'We couldn't have imagined a more perfect way to find out — we're having a boy,' Katrín and Anton said in a statement to The Post. Advertisement The sweethearts began dating in January 2024, after years of close friendship. Anton works as a forklift operator for a pharmaceutical company, and Katrín is in school studying Education and Pedagogy. 'This is our first child together,' they added, 'and to have the big reveal take place in the sky was unforgettable.' It's a memorable milestone that many mommies and daddies like to mark in a major way. Advertisement While some posh pregnant people prefer to learn the sex of their buns in the oven with $20,000 Birkin bags, others, such as Florida-based foodie Rosanna Fontana, favor meatballs as their gender reveal goodies. Then, of course, there are daredevils like influencer Lele Pons, who detonated faux TNT to explosively determine whether she'd soon be welcoming a son or daughter. 4 Katrín and Anton, both aviation enthusiasts, said their sky-high celebration made their gender reveal 'unforgettable.' PLAY airlines The splashiness of a baby-themed bomb notwithstanding, Katrín and Anton are content with their slightly more discreet shindig at 30,000 feet. 'We're incredibly grateful to the crew for making this such a special flight,' the twosome told The Post. 'We'll never forget.'
