Dr. Reddy's Laboratories Announces New Strategic Deal with Gland Pharma in the U.S. Market
October 26 2016 - 9:58AM
Business Wire
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:
RDY) announced today that it has entered into a strategic
collaboration with Gland Pharma, a globally recognized developer
and manufacturer of sterile dosage forms, to market and distribute
a diverse portfolio of eight injectable Abbreviated New Drug
Applications (ANDAs). The portfolio is a mix of filed ANDAs pending
approval by the US Food and Drug Administration (USFDA) and ANDAs
that will be filed imminently, and comprised of generic injectables
administered in hospitals and clinics in the U.S. The combined sale
of branded and generic versions of the products in the U.S. is
approximately US$ 1 Billion MAT for the most recent twelve months
ending in August 2016 according to IMS Health*.
Alok Sonig, Executive Vice President and Head of North America,
said, “We are excited about this opportunity. Dr. Reddy’s
Laboratories has a strong track record in developing, marketing and
distributing generic injectables in the U.S. Our strengths,
combined with Gland’s track record of manufacturing and operational
excellence, will help bring affordable medications within reach of
patients and complement our specialty injectables offering in the
short-to-medium term.”
Srinivas Sadu, Chief Operating Officer of Gland Pharma, added,
“We are happy to expand our collaboration with Dr. Reddy’s for
marketing and distribution of Gland Products in US and other Ex US
markets. Dr. Reddy’s has an impressive track record of
commercializing injectables products in the U.S., and we are
confident that our partnership will continue to grow.”
Dr. Reddy's is aggressively developing its US injectable
business and recently launched Paricalcitol Injection, a
therapeutic equivalent generic version of Zemplar®.
*IMS National Sales Perspective: Retail and Non-Retail MAT
August 2016RDY-1016-133
About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE:
500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical
company, committed to providing affordable and innovative medicines
for healthier lives. Through its three businesses - Pharmaceutical
Services & Active Ingredients, Global Generics and Proprietary
Products – Dr. Reddy’s offers a portfolio of products and services
including APIs, custom pharmaceutical services, generics,
biosimilars and differentiated formulations. Our major therapeutic
areas of focus are gastrointestinal, cardiovascular, diabetology,
oncology, pain management and dermatology. Dr. Reddy’s operates in
markets across the globe. Our major markets include – USA, India,
Russia & CIS countries, and Europe. For more information, log
on to: www.drreddys.com
Disclaimer: This press release may include statements of
future expectations and other forward-looking statements that are
based on the management’s current views and assumptions and involve
known or unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. In addition to statements
which are forward-looking by reason of context, the words "may",
"will", "should", "expects", "plans", "intends", "anticipates",
"believes", "estimates", "predicts", "potential", or "continue" and
similar expressions identify forward-looking statements. Actual
results, performance or events may differ materially from those in
such statements due to without limitation, (i) general economic
conditions such as performance of financial markets, credit
defaults, currency exchange rates, interest rates, persistency
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and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization,
including related integration issues.
The company assumes no obligation to update any information
contained herein.
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Dr. Reddy's Laboratories Ltd.INVESTOR
RELATIONSSaunak Savla,
+91-40-49002135saunaks@drreddys.comorMEDIA RELATIONSCalvin
Printer, +91-40- 49002121calvinprinter@drreddys.com
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