Dr. Reddy's Laboratories Ltd.

Bristol Myers Squibb subsidiary RayzeBio inked a licensing agreement with Philochem valued at up to $1.35 billion, securing rights to the latter’s OncoACP3, a clinical-stage therapeutic and diagnostic radiopharmaceutical targeting prostate cancer.Under the terms of the deal announced Tuesday, RayzeBio gains exclusive global development and commercialisation rights for OncoACP3. In return, Philochem — a a Swiss subsidiary of Philogen — will receive an upfront payment of $350 million and is eligible for potential milestone payments worth up to $1 billion, alongside mid-single to low double-digit sales royalties. The transaction is likely to conclude in the third quarter, subject to regulatory approvals and customary closing conditions.According to Philochem, OncoACP3 is a small molecule radiotracer, with a high affinity and specificity for acid phosphatase 3, offering a dual-purpose therapeutic and diagnostic approach in prostate cancer. The candidate is currently being evaluated in a Phase I trial, with early data indicating selective tumour uptake, prolonged retention, and minimal healthy tissue exposure. Moreover, the company is also conducting IND-enabling activities to support a Phase I trial application for 225Ac-OncoACP3, its actinium-based therapeutic version.OncoACP3, with its initial encouraging safety profile, provides a differentiated entry for Bristol Myers Squibb and RayzeBio into the prostate cancer arena, building on our leadership in actinium-based [radiopharmaceutical therapeutic] development," said Ben Hickey, president of RayzeBio.Bristol Myers Squibb acquired RayzeBio in 2023 for $4.1 billion, marking its entry into the radiopharmaceutical space.

HYDERABAD, India and REYKJAVIK, Iceland I June 05, 2025 I Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide (“Alvotech”), and Dr. Reddy’s Laboratories Ltd., (BSE: 500124 | NSE: DRREDDY | NYSE: RDY | NSEIFSC: DRREDDY, along with its subsidiaries hereafter referred to as “Dr. Reddy’s”), today announced that the companies have entered into 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. In 2024, worldwide sales of Keytruda were US$29.5 billion [1]. 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. “We are very pleased to enter into this collaboration for pembrolizumab with Dr. Reddy’s. This agreement demonstrates Alvotech’s ability to leverage its dedicated R&D and manufacturing platform for biosimilars, accelerating the expansion of our pipeline by pursuing growing global markets. It further enables us to increase the availability of cost-effective, critical biologic medications to patients world-wide,” said Róbert Wessman, chairman and CEO of Alvotech. “We are happy to collaborate with Alvotech for the pembrolizumab biosimilar. This demonstrates our ability to develop and manufacture high quality and affordable treatment options for patients worldwide. Additionally, oncology has been a top focus therapy area for us and this collaboration will further enhance our capabilities in oncology, as pembrolizumab currently represents one of the most critical therapies in immuno-oncology,” said Erez Israeli, CEO of Dr. Reddy’s. Use of trademarks Keytruda ® is a registered trademark of Merck Sharp & Dohme Corp. Sources [1] https://www.merck.com/news/merck-announces-fourth-quarter-and-full-year-2024-financial-results/ . Accessed on June 4, 2025. About Alvotech Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Two biosimilars, to Humira ® (adalimumab) and Stelara ® (ustekinumab) are already approved and marketed in multiple global markets. The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Dr. Reddy’s (EEA, UK and US), Biogaran (FR), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners. For more information, please visit https://www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release. For more information visit Alvotech’s investor portal , and website or follow Alvotech on social media on LinkedIn , Facebook , Instagram , and YouTube . About Dr. Reddy’s Laboratories Ltd: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of ‘Good Health Can’t Wait’, we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil, and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. Over the last 25 years, our Biologics team has developed into a fully integrated organization with robust capabilities in the development, manufacture and commercialization of a range of biosimilar products in oncology and immunology. We have a current portfolio of six commercial products marketed in India, with some products marketed in more than 30 other countries. In addition, we have several products in the pipeline in oncology and auto-immune diseases in various stages of development for global launches across developed as well as emerging markets. We are also ramping up manufacturing capacity to support our global expansion plans. In 2024, we launched our first biosimilar in the United Kingdom, Versavo ® (biosimilar bevacizumab). This follows our launch of pegfilgrastim in the U.S and Europe through our partner. Our biosimilars business has a key role to play in driving both near-term and long-term growth. For more information, log on to: www.drreddys.com . SOURCE: Alvotech

Mumbai: When the world sneezes from a US-China chill, Indian companies rush to make medicines. Literally. Sometime in April, Vivek Sharma, executive chairman of Suven Pharmaceuticals , was on a trans-continental call with the top officials of a tech-driven global pharmaceutical ingredients company, for a potential deal. It could possibly be a future asset for the Hyderabad-based firm that is evaluating high-end, specialised platforms in a bid to bulk up its technological prowess and grab manufacturing mandates from pharma and biotech giants in the West. Before that, in December, Suven acquired a controlling stake in NJ Bio Inc, a contract research organisation based in Princeton, US, that focuses on antibody-drug conjugates, a targeted therapy for cancer. The $65 million acquisition has positioned Suven as a key player in the market of contract development and manufacturing organisations or CDMOs. These are third-party companies that provide a range of services to global pharma—from early-stage re - search to regulatory submissions to the manufacturing of the latest drugs. Suven is one among a host of Indian CDMOs like Aurigene, Sai Life Sciences, and Syngene International , which are prepping for the next phase of growth and expansion through strategic mergers and acquisitions abroad amid a rising call from global pharma companies to nearshore projects in US and Europe. “We remain focused on building a technology-led global CDMO platform. Our acquisition strategy is around assets that bring in cutting-edge technology and strong scientific talent,” says Sharma. Meanwhile, Biocon company Syngene International has just completed its acquisition of Emergent BioSolutions , a biologics -manufacturing facility in Baltimore, US. Biologics are medications that come from living organisms, like proteins and genes. The $36.5 million deal gives Syngene “a strategic foothold in the US by bringing it closer to the wider customer market,” says Peter Bains, MD and CEO, Syngene International. Several Indian CDMOs, which have been helping drive the innovation engines of large pharmaceutical companies in the West, are scouting for suitable assets in the US and Europe to fast-track their capacity building. “The business development guys of almost every CDMO in India are out there on the US East Coast and some parts of the West Coast, evaluating possible acquisition targets,” says a top industry official. While the Indian facilities of these companies have been helping global drug makers for years, they are now exploring strategic acquisitions in specialised, high-growth therapeutic areas such as biologics, cell and gene therapy and oncology. “What we are looking for are enhanced capabilities—particularly in research and complex chemistry. The idea is to establish highly specialised labs where our scientists co-create solutions alongside innovator partners,” says Sharma. However, “India will remain our hub for commercial-scale manufacturing, where we continue to enjoy a global cost advantage.” NEARSHORING & GLOBAL PHARMA Nearshoring and reshoring are gaining momentum among global pharma majors that are looking to mitigate risks posed by supply chain disruption and rising offshore cost. According to a report by consulting firm LoEstro, pharma companies in the West are investing in local and regional facilities to reduce supply chain risks, ensure regulatory compliance and enhance production resilience amid global disruptions. Siva Chittor, CFO of Sai Life Sciences, says, “We are seeing a growing customer preference for nearshoring.” Sai has been an early mover in this space, establishing R&D labs in US and UK about five years ago. “These labs allow us to be closer to our customers,” he adds. A key driver is the increasing trend of global customers looking to re-balance their supply chains from China. Multinational pharma companies in US and Europe want to diversify their manufacturing bases in a bid to reduce their over-reliance on China amid geopolitical uncertainties and a growing divide between Washington and Beijing. However, such is the dependence on China, that US’s proposed BioSecure Act , which seeks to restrict American companies from doing business with Chinese drugmakers, has been put on the backburner. If US puts hurdles for Chinese pharma companies, it will create huge opportunities for India. Indian CDMOs, which have a significant presence in small-molecule manufacturing, are now stepping up into biologics, which are large complex molecules, and advanced therapeutic modalities that can help them snatch a large slice of the pie from Chinese manufacturers. “The Indian CDMO sector is well poised for growth to capitalise on the changing global dynamics,” says Akhil Ravi, CEO of Bengaluru-headquartered Aurigene Pharmaceutical Services. “Factors such as robust infrastructure, regulatory compliance and highly skilled talent pool have strengthened India’s position to become a preferred strategic partner for global companies in drug development. We remain committed to expanding our capabilities and capacity to meet rising demand in small-molecule APIs (active pharma - ceutical ingredients), peptides and bio - logics,” says Ravi. Peptides are smaller forms of proteins. Says Bains of Syngene: “India is entering a critical phase in the evolution of its CDMO industry. A CAGR of 15% in 2019- 24, double the global growth rate of 7-8%, indicates that there are strong tailwinds for India.” At Syngene, the conversations with its customers are around its end-to-end ability to strategically support them in R&D and manufacturing and its long-term sup - ply chain resilience. “We are seeing in - creased visits by both large and mid-sized pharma companies, which are running comparative pilots with a few organisa - tions as a way of selecting longer-term partners. We have been successful in con - verting a majority of these pilots into fulltime contracts,” says Bains. Deepak Jain, MD and CEO of Jubilant Ingrevia, which has partnered with glob - al drug firms for manufacturing drug intermediates, expects 6-7x growth in pharma contracts over the next few years. “This is a golden opportunity for India. If not India, who else?” he asks. Inorganic expansion, through acquisi - tions abroad, enables Indian companies to stave off the threat of tariffs and geo - political impact and access highly skilled manpower, says Sujay Shetty, global health industries advisory leader, PwC. “Also, from the IP perspective, it makes more sense if they are on the ground there since they will be running highly confidential projects for clients that could be multinational innovator companies or biotech companies,” he adds. Piramal Pharma, which recently announced a capex of $90 million for the expansion of two of its US facilities in Kentucky and Michigan, will focus on organic, brownfield expansion in the drug development and manufacturing service business, says chairperson Nandini Piramal. The company has four manufacturing facilities in North America and two in the UK. “We are one of the best-positioned CDMOs to benefit from pharma companies wanting to onshore manufacturing in US,” says Piramal. The overseas facilities of Indian companies will be mostly in advanced therapeutic segments. Says Annaswamy Vaidheesh, former MD of GSK Pharma India: “Their strategic priorities are in - creasingly aligned with high-value segments such as biologics and advanced technology platforms that require differentiated capabilities and offer greater margin potential.” Biologics require specialised facilities and expertise that drive up production cost but can generate higher profit margin. However, Vaidheesh warns that establishing a fully onshore, end-to-end sup - ply chain for US clients through Indian partners will take time, as it involves scaling capabilities and aligning regulatory and operational processes. “Innovators typically assess whether a CDMO has the bandwidth to take on new programmes. Without demonstrable ca - pacity, even strong technical competen - cies may not suffice,” says Vaidheesh. Key Indian companies have been in - vesting heavily to enhance capacity. Aurigene has made significant additions to its infrastructure and established a new biologics facility at Genome Valley, Hyderabad. Chinese companies have been the preferred CDMO partner for US companies —grabbing 80% market share—because they are good in speed and low in cost. India is well-positioned to play a greater role in global supply chains, but the pace and quality of transition will depend on several factors. Speed of execution has been a major pain point for Indian CDMOs, which have to go through multiple levels of domestic regulatory approvals that delay consignments to customers by three-four months. “Speed and agility are key expectations from global innovators. Chinese CDMOs have set high benchmarks in terms of responsiveness. Indian players need to invest in systems and capabilities that allow them to meet these expectations competitively,” says Vaidheesh. RISING PE INTEREST Rising growth opportunities and the China+1 plan of MNCs have led to sustained investor interest in the Indian CDMO space. Over $900 million has come from private investments and nearly $750 million has been raised through IPOs over the past 15 months, according to Grant Thornton. “This reflects the segment’s growing strategic relevance, driven by global demand for outsourced development and manufacturing and India’s established expertise in generics, APIs and complex formulations,” says Bhanu Prakash Kalmath SJ, partner and healthcare industry leader. Another significant development has been US President Donald Trump’s executive order that directed drug companies to reduce the prices of medicines in 30 days. While that could still see negotiations, some experts suggest the direct result will be companies’ looking at partners in India to cut their costs of research and production. This seems like a shot in the arm for Indian CDMOs. Can they now make a dent in the time-tested Chinese pharma supply chain? The results are awaited . By Rica Bhattacharyya ,