Alvotech, a global biotech firm specializing in biosimilars, has announced a collaboration and licensing agreement with Dr. Reddy’s Laboratories Ltd. and its subsidiaries. The two companies will co-develop, gmanufacture, and commercialize a biosimilar version of Keytruda® (pembrolizumab)—a leading immuno-oncology drug used to treat a variety of cancers.
The agreement marks a strategic move into one of the most lucrative segments of the biosimilars market. In 2024 alone, global sales of Keytruda reached US$29.5 billion, highlighting the significant commercial potential of its biosimilar counterpart.
Combined Strengths to Accelerate Development and Market Reach
The collaboration leverages the combined strengths of Alvotech and Dr. Reddy’s in biosimilar development, manufacturing, and commercialization. Together, the companies aim to fast-track development timelines and expand access to this high-impact therapy across global markets.
Under the agreement, both partners will share costs and responsibilities related to development and manufacturing. Barring specific exceptions, both companies will also retain the rights to commercialize the biosimilar globally.
Leadership Statements
Róbert Wessman, Chairman and CEO of Alvotech, emphasized, “We are very pleased to enter into this collaboration for pembrolizumab with Dr. Reddy’s. This agreement showcases Alvotech’s robust R&D and manufacturing platform for biosimilars, allowing us to expand our pipeline and enter fast-growing global markets. Most importantly, it helps increase access to cost-effective, life-saving biologic medications for patients worldwide.”
Erez Israeli, CEO of Dr. Reddy’s, added, “We are happy to partner with Alvotech for the pembrolizumab biosimilar. This partnership demonstrates our ability to develop and deliver high-quality, affordable treatments. Oncology continues to be a key focus for us, and this collaboration further strengthens our position in immuno-oncology, where pembrolizumab plays a critical role.”
Advancing Global Access to Affordable Cancer Therapies
With this agreement, Alvotech and Dr. Reddy’s reinforce their commitment to making advanced cancer treatments more accessible and affordable worldwide. The biosimilar to pembrolizumab represents not only a major opportunity in oncology but also a step forward in closing the treatment access gap in many regions. According to the company press release, biosimilars continue to gain traction. Partnerships like this signal a future where innovative therapies are accessible to more patients globally.
