Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide (Alvotech), and Dr. Reddy's Laboratories announced that the companies have entered into a collaboration and license agreement to co develop, manufacture and commercialize a biosimilar candidate to Keytruda® (pembrolizumab) for global markets.

Keytruda® (pembrolizumab) is indicated for the treatment of numerous cancer types.

In 2024, worldwide sales of Keytruda were US$29.5 billion [1]. 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.