Dr Reddy's Share Price: Hits ₹1,303.4 on June 5 After $29.5B Keytruda Biosimilar Deal with Alvotech

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Dr Reddy’s stock surged to ₹1,303.4 on June 5, 2024, following a major collaboration with Alvotech to co-develop a Keytruda biosimilar, targeting the $29.5 billion oncology market. Discover what this means for investors, patients, and the future of affordable cancer treatments.

Key Points:

Dr Reddy’s share price reached an intraday high of ₹1,303.4 on June 5, 2024, a significant rise from its April low of ₹1,020.

The surge follows the announcement of a strategic partnership between Dr Reddy’s Laboratories and Alvotech.

The collaboration focuses on co-developing, manufacturing, and commercializing a biosimilar to Keytruda (pembrolizumab), a leading cancer drug.

Keytruda’s global sales reached $29.5 billion in 2024, highlighting the massive market opportunity.

Both companies will share development costs and commercialization rights, aiming for global reach.

Alvotech brings expertise in biosimilars, with two approved products and a robust pipeline, while Dr Reddy’s adds global market presence.

The partnership aligns with Dr Reddy’s growth strategy in oncology and biosimilars, expanding affordable treatment options.

Investors are advised to consider risks and conduct due diligence, as the path from development to market involves regulatory and competitive challenges.

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