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.
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