Indian drugmaker Dr Reddy's up on deal to develop cancer immunotherapy
ReutersJun 5, 2025 5:20 AM
Dr Reddy's Laboratories REDY.NS climbs 3% to 1,288.70 rupees; top gainer on pharma index .NIPHARM, which is up 1%
Drugmaker partners with U.S.-listed Alvotech ALVO.O to develop a biosimilar for Merck's MRK.N cancer immunotherapy Keytruda
Says Keytruda, belonging to a class of immunotherapy called PD-L1 inhibitor, had global sales of $29.5 bln in 2024
ICICI Direct says Keytruda biosimilar could be "decent" future product for REDY despite intense competition
REDY and ALVO will jointly develop therapy, hold rights to globally commercialize the product
Dr Reddy's Laboratories third-cheapest stock on NIPHARM, with forward 12-month PE ratio of 18.8
YTD, REDY down 7.5%
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