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Economic Times
5 days ago
- Business
- Economic Times
Dr. Reddy's shares rise over 1% on strategic collaboration with Alvotech for Keytruda Biosimilar
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Dr. Reddy's Laboratories rose 1.4% to touch the day's high of Rs 1,307.65 on the BSE on Friday, June 6, after the company announced a strategic collaboration with Alvotech , a global biotech firm, to co-develop and commercialize a biosimilar candidate to Keytruda ( pembrolizumab ) for global markets.'Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines, and Dr. Reddy's Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY, along with its subsidiaries hereafter referred to as 'Dr. Reddy's'), 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,' Dr. Reddy's said in an exchange a leading immunotherapy drug used in the treatment of various cancers, generated $29.5 billion in global sales in 2024, making it one of the most valuable targets in the biosimilars partnership represents a significant opportunity for Dr. Reddy's to enter the high-value biosimilar segment for oncology drugs, a category that continues to witness growing demand and heightened competitive the agreement, both parties will jointly develop and manufacture the biosimilar, sharing costs and responsibilities. Importantly, each company will retain the right to commercialize the product globally, subject to certain deal is expected to accelerate development timelines and expand the global market reach of the biosimilar.Róbert Wessman, Chairman and CEO of Alvotech, emphasized that the agreement will help deliver cost-effective, critical biologic medicines to patients worldwide by combining Dr. Reddy's commercial strength with Alvotech's R&D and manufacturing this collaboration, Dr. Reddy's further strengthens its pipeline in the biosimilars segment.'We are pleased to collaborate with Alvotech on the pembrolizumab biosimilar. This demonstrates our ability to develop and manufacture high-quality, affordable treatment options for patients across the world. Oncology has been a key focus area for us, and this collaboration will enhance our capabilities in this domain, as pembrolizumab represents one of the most critical therapies in immuno-oncology,' said Erez Israeli, CEO of Dr. Reddy' Reddy's Laboratories shares ended Thursday's session higher by 3% at Rs 1,289.90 on BSE.
Time of India
5 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.
