📌 At a Glance:
Dr. Reddy’s and Iceland-based Alvotech are co-developing a biosimilar version of Keytruda®, the blockbuster immuno-oncology drug that clocked $29.5 billion in global sales in 2024. With shared costs and global rights, this deal is one of Dr. Reddy’s most ambitious biologics bets yet.

🧬 What is Keytruda®?

• Original brand by Merck
• Active molecule: pembrolizumab
• Approved for melanoma, lung cancer, head & neck cancers, and more
• 2024 Global Sales: $29.5 Billion
• A top 3 global drug by revenue

🤝 What’s the Deal?

• Partners: Alvotech (NASDAQ: ALVO) & Dr. Reddy’s (NYSE: RDY)
• Structure: Co-development + co-manufacturing + shared commercialization
• Rights: Global, with some carve-outs per region
• Goal: Get biosimilar approval for Keytruda and undercut Merck’s monopoly

🧪 Why It Matters

🧠 What They Said

Erez Israeli, CEO, Dr. Reddy’s:

“This collaboration strengthens our oncology play and our biosimilars pipeline. Keytruda is a critical piece.”

Róbert Wessman, CEO, Alvotech:

“We’re expanding our biosimilar platform with global partners like Dr. Reddy’s to make critical medicines accessible.”

🌍 About the Companies

Dr. Reddy’s Laboratories:

• Indian pharma major
• Markets: US, EU, India, China, Brazil
• 6 biosimilars launched, 30+ countries served

Alvotech:

• Iceland-based biotech pureplay
• 9 biosimilars in pipeline
• Already launched Humira® and Stelara® biosimilars

🧠 EduInvesting Take

This is huge.

• Biosimilars are the new pharma battleground.
• If DRL-Alvotech succeed, it’ll mean $29.5B of Merck’s moat is up for generic attack.
• It’s like a biotech version of Gangs of Wasseypur, and Dr. Reddy just picked a side.

Tags: Dr. Reddy’s, Alvotech, Keytruda Biosimilar, Oncology Pharma, Biologics, Merck, Pembrolizumab, Pharma Wars, Global Biosimilars