Indian drugmaker Dr Reddy's up on deal to develop cancer immunotherapy

ReutersJun 5, 2025 5:20 AM

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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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