Dr. Reddy's Laboratories Ltd. and Alvotech announced on June 5, 2025, a collaboration and license agreement to co-develop, manufacture, and commercialize a biosimilar candidate to Keytruda® (pembrolizumab) for global markets.

• Keytruda® (pembrolizumab) is indicated for the treatment of numerous cancer types and recorded worldwide sales of US$29.5 billion (approximately ₹2,45,850 crore) in 2024.
• Under the terms of the agreement, Dr. Reddy's and Alvotech will be jointly responsible for the development and manufacturing of the biosimilar candidate, sharing costs and responsibilities.
• Subject to certain exceptions, each party will have the right to commercialize the product globally.
• Róbert Wessman, Chairman and CEO of Alvotech, stated that this agreement demonstrates Alvotech’s ability to leverage its R&D and manufacturing platform, accelerating pipeline expansion and increasing the availability of cost-effective biologic medications worldwide.
• Erez Israeli, CEO of Dr. Reddy’s, commented that this collaboration enhances the company's capabilities in oncology, a top focus therapy area, as pembrolizumab is a critical therapy in immuno-oncology.