Dr. Reddy's Laboratories soars on entering into license agreement with Alvotech
Dr. Reddy's Laboratories is currently trading at Rs 1284.45, up by 32.30 points or 2.58% from its previous closing of Rs 1252.15 on the BSE.
The scrip opened at Rs 1260.00 and has touched a high and low of Rs 1303.45 and Rs 1260.00 respectively. So far 159192 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 1420.20 on 21-Aug-2024 and a 52-week low of Rs 1025.90 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs 1303.45 and Rs 1232.55 respectively. The current market cap of the company is Rs 107360.12 crore.
The promoters holding in the company stood at 26.64%, while Institutions and Non-Institutions held 51.37% and 10.44% respectively.
Dr. Reddy's Laboratories and Alvotech have entered into a collaboration and license agreement to codevelop, 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 $29.5 billion. 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.
Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.
