Dr Reddy's Laboratories, Prestige BioPharma to commercialize Trastuzumab biosimilar

Dr Reddy's Laboratories and Prestige BioPharma entered into a binding agreement for an exclusive partnership for the supply and commercialization of the latter's proposed Trastuzumab biosimilar in select countries in Latin America and Southeast Asia.

Prestige BioPharma's Trastuzumab (HD201) is a proposed biosimilar to Roche's Herceptin and can be prescribed for the treatment of HER2 positive breast and metastatic gastric cancer. Trastuzumab targets human epidermal growth factor 2 (HER2). In some types of cancer cells, HER2 is overexpressed and stimulates the growth of the cancer cells. Trastuzumab works by selectively binding to HER2, thereby stopping the growth of these cancer cells.

The license agreement grants Dr Reddy's Laboratories' the exclusive rights to commercialize the proposed biosimilar in select countries in Latin America and Southeast Asia. Under this partnership, Prestige BioPharma will be responsible for sustainable commercial supply of HD201 from its manufacturing facilities in Osong, South Korea, while Dr Reddy's Laboratories' will be responsible for local registrations, marketing and sales in the licensed territories.

Dr Reddy's Laboratories' consolidated net profit rose 29% to Rs 995.80 crore on 17.7% increase in net sales to Rs 5,763.20 crore in Q2 September 2021 over Q2 September 2020.

Shares of Dr Reddy's Laboratories rose 0.26% to Rs 4,582.95 on BSE. Dr. Reddy's Laboratories is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives.

Powered by Capital Market - Live News