Alvotech, a global biotechnology company focused on developing and manufacturing biosimilar medicines, and Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY), today announced a collaboration and license agreement to co-develop, manufacture, and commercialize a biosimilar candidate of Keytruda® (pembrolizumab) for global markets. Keytruda is a leading immunotherapy used in the treatment of various cancer types, with global sales reaching US$29.5 billion in 2024.
This partnership brings together the strengths of both companies in the biosimilar space, aiming to accelerate development timelines and expand global access to the product. Under the agreement, Alvotech and Dr. Reddy’s will jointly handle development and manufacturing activities, sharing associated costs and responsibilities. With limited exceptions, both companies will have rights to commercialize the biosimilar worldwide.
“We are delighted to partner with Dr. Reddy’s on the pembrolizumab biosimilar. This agreement highlights Alvotech’s robust R&D and manufacturing platform for biosimilars, enabling us to grow our pipeline and enhance access to affordable biologic medicines across global markets,” said R¢bert Wessman, Chairman and CEO of Alvotech.
Erez Israeli, CEO of Dr. Reddy’s, added, “We are pleased to collaborate with Alvotech on this important biosimilar. It aligns with our commitment to deliver high-quality, affordable treatment options globally. Oncology remains a key focus area for us, and this partnership strengthens our capabilities in immuno-oncology, where pembrolizumab is one of the most vital therapies today.”