Dr. Reddy’s Laboratories Limited [NYSE: RDY] revealed that it has inked a particular partnership pact with Prestige BioPharma. Both the corporations have inked a binding agreement for the supply and marketing of Prestige BioPharma’s trastuzumab biosimilar in chosen countries.
Prestige BioPharma believed that Dr. Reddy’s is the perfect partner to market its lead biosimilar in the countries. By establishing this partnership, the company will bolster the value of its biosimilar programs in global markets. RDY disclosed that its collaboration with Prestige BioPharma will help it combine its recognized strengths in the area of biosimilars with its commercial strengths and growth ambition in these markets.
Furthermore, the license accord awards Dr. Reddy’s the entire rights to market the biosimilar in chosen nations in Latin America and Southeast Asia. As per the collaboration, Prestige BioPharma will be obligated for the commercial supply of HD201 from its production facilities in Osong, South Korea. On the other hand, RDY will be able to do local registrations, marketing, and sales in licensed countries.
In addition, trastuzumab (HD201) is a proposed biosimilar to Roche’s Herceptin. Moreover, it is suggested for the cure of HER2-positive breast and metastatic gastric cancer. Trastuzumab targets human epidermal growth factor 2 (HER2). Trastuzumab works by selectively binding to HER2, thereby preventing the growth of these cancer cells.