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Dr Reddy’s Laboratories ( (RDY) ) has provided an announcement.
On February 6, 2025, Dr. Reddy’s Laboratories SA, a subsidiary of Dr. Reddy’s Laboratories Ltd., announced a strategic partnership with Shanghai Henlius Biotech Inc. to commercialize the biosimilar product HLX15, a potential alternative to Darzalex®, for treating multiple myeloma in the U.S. and Europe. This collaboration aligns with Dr. Reddy’s ongoing expansion in the regulated biosimilars market and aims to enhance its competitive position in oncology treatments. The agreement involves Dr. Reddy’s obtaining exclusive commercialization rights for HLX15 in these regions, with Henlius responsible for the product’s development and supply. The deal is valued at $131.6 million, including an upfront payment and potential milestone payments, with Henlius also receiving royalties based on sales.
More about Dr Reddy’s Laboratories
Dr. Reddy’s Laboratories Ltd. is a leading global pharmaceutical company headquartered in Hyderabad, India. It primarily focuses on the development, manufacture, and commercialization of pharmaceutical products, with a strong emphasis on biosimilars and oncology treatments. The company operates in various international markets, leveraging its extensive commercial infrastructure to provide affordable and high-quality medicines.
YTD Price Performance: -10.85%
Average Trading Volume: 1,622,473
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.7B
See more data about RDY stock on TipRanks’ Stock Analysis page.
