Oncology has been top focus therapy area, says Israeli
Luxembourg-headquartered Alvotech (NASDAQ: ALVO) and Dr Reddy’s Laboratories Ltd (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY) have entered into a collaboration and license agreement to co-develop, manufacture and commercialize a biosimilar candidate to Keytruda® (pembrolizumab) for global markets.
Keytruda® (pembrolizumab) is indicated for the treatment of numerous cancer types. In 2024, worldwide sales of Keytruda were US$29.5 billion, the partners said in a report citing industry data https://www.makeinindia.com/home/.
The collaboration combines Dr Reddy’s and Alvotech’s proven capabilities in biosimilars, thereby, speeding up the development process and extending the global reach for this biosimilar candidate https://fieo.org/.
Under the terms of the agreement, the parties will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities. Subject to certain exceptions, each party will have the right to commercialize the product globally.
“We are very pleased to enter into this collaboration for pembrolizumab with Dr Reddy’s. This 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,” said Róbert Wessman, chairman and CEO of Alvotech https://www.nseindia.com/.
“It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide,” he added in a release on 5 June.
“We are happy to collaborate with Alvotech for the pembrolizumab biosimilar. This demonstrates our ability to develop and manufacture high quality and affordable treatment options for patients worldwide,” said Erez Israeli, CEO of Dr. Reddy’s https://www.bseindia.com/.
“Additionally, 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.”
Alvotech is a global biotech company, founded by Róbert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide https://sbi.com.in/. Fiinews.com
