Dr. Reddy’s Laboratories (NSE: DRREDDY) saw its stock price rise by almost 4%. This rally was driven by two major developments: DRL announced a strategic collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar candidate to Merck’s blockbuster cancer drug, Keytruda (pembrolizumab), for global markets. HSBC upgraded DRL’s stock rating, citing improved growth prospects, robust pipeline, and the positive impact of the Alvotech collaboration.