Dr Reddy's Shares Surge 4% on Biosimilar Pact with Alvotech

Dr Reddy’s Laboratories shares jumped 4% on June 5, 2025, emerging as the top Nifty gainer after announcing a strategic partnership with Alvotech to develop a biosimilar to Keytruda, a blockbuster cancer immunotherapy drug with $29.5 billion in global sales in 2024. The collaboration leverages the biosimilar expertise of both companies to accelerate development and expand global market access. Under the agreement, !Dr Reddy’s and Alvotech will jointly manage development, manufacturing, and commercialization, sharing responsibilities and costs. Both companies will also have marketing rights in international markets, with limited exceptions. The deal positions Dr Reddy’s to tap into the high-growth biosimilar market, boosting investor confidence.