India's Dr Reddy's rises after EU marketing authorisation for osteoporosis biosimilar

Alvotech SA

25/11/2025 05:06

** Shares of Dr Reddy's REDY.NS rise 1.4% to 1,243.30 rupees

** Set to snap three sessions of losses

** European Commission grants pharma co marketing authorisation for AVT03, a biosimilar to Prolia and Xgeva

** These medicines are used to treat osteoporosis and prevent cancer related bone issues

** Last May, REDY and Alvotech ALVO.O entered into a license and supply agreement to commercialize the biosimilar

** REDY has exclusive commercialization rights in the U.S. and semi-exclusive rights in Europe and UK

** Biosimilars are copies of costlier biological drugs used to treat major illnesses

** Thirty eight analysts have a "hold" rating on avg; median PT is 1,305 rupees - data compiled by LSEG

** YTD, REDY down 10.5%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))