Indian drugmaker Dr Reddy's up on partnership to develop cancer immunotherapy
ReutersJun 5, 2025 4:24 AM
India's Dr Reddy's Laboratories REDY.NS climbs 2.2% to 1,278.80 rupees
Stock top gainer on pharma index .NIPHARM, which is trading 0.9% higher
Drugmaker partners with U.S.-listed biosimilars maker Alvotech ALVO.O to develop a biosimilar for Merck's MRK.N cancer immunotherapy Keytruda
Keytruda, which belongs to a class of immunotherapy called PD-L1 inhibitor, had global sales of $29.5 bln in 2024 - REDY
REDY and ALVO will jointly develop the therapy and will have rights to commercialize the product globally - companies
REDY third-cheapest stock with fwd 12-mth PE ratio of 18.8 on pharma index
YTD, REDY down 7.5% vs pharma index's 8% decline
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