Dr. Reddy's Laboratories enters into a Licensing Agreement with Gilead Sciences for Remdesivir
June 13 2020 - 5:15AM
Business Wire
Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:
RDY, along with its subsidiaries together referred to as “Dr.
Reddy’s”) today announced that it has entered into a non-exclusive
Licensing Agreement with Gilead Sciences, Inc. (Gilead) that will
grant Dr. Reddy’s the right to register, manufacture and sell
Gilead’s investigational drug, Remdesivir, a potential treatment
for Covid-19, in 127 countries including India.
Dr. Reddy’s will receive technology transfer from Gilead for
manufacturing of this drug. Dr. Reddy’s would need to do the
manufacturing scale up and obtain regulatory approval for marketing
of this drug in respective countries.
Remdesivir, an investigational antiviral therapy developed by
Gilead, received Emergency Use Authorization (EUA) by the U.S. Food
and Drug Administration (USFDA) to treat Covid-19.
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
levels and frequency / severity of insured loss events, (ii)
mortality and morbidity levels and trends, (iii) changing levels of
competition and general competitive factors, (iv) changes in laws
and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization,
including related integration issues, and (vi) the susceptibility of our industry
and the markets addressed by our, and our customers’, products and
services to economic downturns as a result of natural disasters,
epidemics, pandemics or other widespread illness, including
coronavirus (or COVID-19), and (vii) other risks and uncertainties
identified in our public filings with the Securities and Exchange
Commission, including those listed under the "Risk Factors" and
"Forward-Looking Statements" sections of our Annual Report on Form
20-F for the year ended March 31, 2019. The company assumes no
obligation to update any information contained herein.”
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INVESTOR RELATIONS AMIT AGARWAL amita@drreddys.com (PH:
+91-40-49002135)
MEDIA RELATIONS APARNA TEKURI aparnatekuri@drreddys.com
(PH: +91-40- 49002446)
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