Alvotech, Dr. Reddy’s enter pact to codevelop biosimilar candidate to Keytruda

Alvotech (ALVO) and Dr. Reddy’s (RDY) announced that the companies have entered into a collaboration and license agreement to co-develop, manufacture and commercialize a biosimilar candidate to Keytruda for global markets. Keytruda is indicated for the treatment of numerous cancer types. 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. 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.