Dr Reddy’s and Prestige BioPharma ink pact to commercialize a vital cancer drug
With this agreement, pharma major Dr Reddy’s gets the exclusive rights to commercialize the proposed biosimilar in select countries in Latin America and Southeast Asia.
Dr Reddy’s Laboratories Ltd, a leading multinational pharmaceutical company, announced that it has inked a pact with Prestige BioPharma for an exclusive partnership for the supply and commercialization of the latter’s proposed trastuzumab biosimilar (HD201) in select countries in Latin America and Southeast Asia.
Prestige BioPharma’s trastuzumab can be prescribed for the treatment of HER2 positive breast and metastatic gastric cancer. A proposed biosimilar of Roche’s Herceptin, trastuzumab targets human epidermal growth factor 2 (HER2). In some types of cancer cells, HER2 is overexpressed, causing stimulation in the growth of the cancer cells. The biosimilar works by selectively binding to HER2, thereby stopping the growth of these cancer cells.
By way of this agreement, Dr Reddy’s shall have the exclusive rights to commercialize the proposed biosimilar in select countries in Latin America and Southeast Asia. As per the pact, Prestige BioPharma shall oversee sustainable commercial supply of HD201 from its manufacturing facilities in Osong, South Korea, and Dr Reddy’s shall oversee local registrations, marketing and sales in the licensed territories.
This development is a part of Dr Reddy’s growth strategy. For fulfilling its long-term growth aspirations, the company is also investing in various innovation businesses. This includes building a global pipeline of biosimilar, developments of NCE for immuno-oncology, building up of a nutraceutical portfolio, vaccines, contract research, development and manufacturing operations (CDMO) and digital healthcare platforms.
At 12.51 pm, the share price of Dr Reddy’s Laboratories Ltd was trading at Rs 4,588.15, which was an increase of 0.37% from the previous day’s closing price of Rs 4571.20 on BSE.
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