Dr Reddy's Laboratories has entered into a licence agreement with Shanghai Henlius Biotech for the development and commercialisation of a multiple myeloma treatment drug. The deal gives Dr Reddy's exclusive rights to commercialise the drug in the US and European markets. As part of the agreement, Dr Reddy's will pay Henlius up to $131.6 million, including an upfront payment of $33 million. Henlius will be responsible for the development, manufacturing, and commercial supply of the drug. The collaboration is a significant step in improving access to advanced biologics and enhancing the global market competitiveness in oncology treatment.