Alvotech, a global biotech company based in Iceland, and Dr. Reddy’s Laboratories, an Indian pharmaceutical firm, have entered into a collaboration and license agreement to co-develop, manufacture, and commercialize a biosimilar candidate to Keytruda (pembrolizumab) for global markets. Keytruda is a widely used cancer treatment, with worldwide sales of $29.5 billion in 2024. The partnership combines the strengths of both companies in biosimilars, aiming to accelerate the development process and expand the global reach of the biosimilar candidate.
Under the agreement, Alvotech and Dr. Reddy’s will jointly develop and manufacture the biosimilar candidate, sharing costs and responsibilities. Both parties will have the right to commercialize the product globally, with some exceptions. This collaboration enables Alvotech to leverage its research and development (R&D) and manufacturing platform for biosimilars, accelerating the expansion of its pipeline and increasing the availability of cost-effective, critical biologic medications to patients worldwide.
The partnership is a strategic move for both companies, with Alvotech’s chairman and CEO, Róbert Wessman, stating that it demonstrates the company’s ability to accelerate the expansion of its pipeline and increase the availability of critical biologic medications. For Dr. Reddy’s, the collaboration enhances its capabilities in oncology, a top focus therapy area for the company. Pembrolizumab, the current brand name for Keytruda, is a critical therapy in immuno-oncology, and this partnership will further strengthen Dr. Reddy’s presence in this area.
The collaboration between Alvotech and Dr. Reddy’s has the potential to make a significant impact in the global biosimilars market, which is expected to grow significantly in the coming years. By working together, the companies can pool their resources, expertise, and experience to bring a high-quality biosimilar candidate to market, increasing access to affordable and effective treatments for patients worldwide. With this partnership, Alvotech and Dr. Reddy’s are well-positioned to capitalize on the growing demand for biosimilars and make a meaningful difference in the lives of patients.