Alvotech and Dr Reddy’s Laboratories partner to develop biosimilar for Keytruda targeting global markets

Alvotech, a global biotech company focused on the development and manufacture of biosimilar medicines, and Dr Reddy’s Laboratories, including its subsidiaries, have announced a collaboration and license agreement to co-develop, manufacture, and commercialise a biosimilar candidate to Keytruda (pembrolizumab) for global markets.

Keytruda (pembrolizumab) is approved for the treatment of multiple cancer types. In 2024, the drug recorded worldwide sales of US$29.5 billion. The partnership combines the biosimilar expertise of both companies to accelerate the development process and expand the biosimilar’s reach internationally.

Under the terms of the agreement, Alvotech and Dr Reddy’s will share responsibilities and costs related to the development and manufacturing of the biosimilar candidate. Subject to certain exceptions, both parties will hold the rights to commercialise the product globally.

Róbert Wessman, chairman and CEO of Alvotech, said: “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. It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide.”

Erez Israeli, CEO of Dr Reddy’s, added, “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. 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.”