img

News Topical, Digital Desk : Dr Reddy's Laboratories announced after the stock market closed on Monday that its subsidiary has received approval from the European Commission for AVT03, a biosimilar to Prolia and Xgeva. In a filing to the exchange, the company said AVT03 is a proposed biosimilar to Prolia and Xgeva. Prolia is used to treat osteoporosis in postmenopausal women and men at increased risk of fractures.

It is also used to treat bone loss associated with hormone therapy in men with prostate cancer and bone loss caused by long-term glucocorticoid use. Xgeva is used to prevent bone complications in advanced cancer patients and to treat giant cell tumors of bone in adults and adolescents. The company stated that Dr. Reddy's entered into a license and supply agreement with Alvotech for AVT03 through May 2024. Under this partnership, Alvotech will develop and manufacture the product, while Dr. Reddy's will handle registration and commercialization in key markets, including the US and Europe.
 

Share Performance The company's shares closed at Rs 1,224 on Monday, down 1.60 percent. In the past year, the company's shares have seen a rise of 1.22 percent. 


Read More: Wakefit is launching an IPO, applications can be made from this date in December; it pays lakhs of rupees for gold.

--Advertisement--

Dr Reddy's AVT03 approval European Commission approval denosumab biosimilar Prolia biosimilar Xgeva biosimilar Dr. Reddy’s AVT03 Acvybra Xbonzy Alvotech partnership EU marketing authorization