04:17 AM EDT, 06/05/2025 (MT Newswires) -- Alvotech ( ALVO ) and Dr. Reddy's Laboratories (RDY) said Thursday they have entered a collaboration and license agreement to co-develop, manufacture and commercialize a biosimilar candidate to Merck's ( MRK ) Keytruda.

Financial terms were not disclosed.

Under the agreement, the companies will share costs for developing and manufacturing the biosimilar candidate while each party will have the right to commercialize it, subject to certain exceptions, they said.