Partnership Covers Generics and Differentiated Formulations
Dr. Reddy’s Laboratories (NYSE: RDY) today announced a partnership with
GlaxoSmithKline plc (GSK) to develop and market select products across
emerging markets outside India.
Under the terms of the agreement, which is effective immediately, GSK
will gain access to Dr. Reddy’s rich and diverse portfolio and future
pipeline of more than 100 branded pharmaceuticals in fast growing
therapeutic segments such as cardiovascular, diabetes, oncology,
gastroenterology and pain management.
Commenting on the collaboration, GV Prasad, Vice Chairman & CEO, Dr.
Reddy’s said, “We are extremely pleased to combine forces with GSK,
a global leader, to fully realize the potential of our strengths in
technology, product development and manufacturing across a range of high
growth emerging markets. We hope to take our purpose of providing
affordable and innovative medicines to a much wider population through
this partnership.”
The products will be manufactured by Dr. Reddy’s and will be licensed
and supplied to GSK in various emerging markets such as Africa, the
Middle East, Latin America and Asia Pacific excluding India. Revenues
will be reported by GSK and will be shared with Dr. Reddy’s as per
agreed terms. In certain markets products will be co-marketed by Dr.
Reddy’s and GSK.
Abbas Hussain, President Emerging Markets, GlaxoSmithKline added:
“This is another significant step forward in our strategy to grow and
diversify GSK’s business in emerging markets. Growth in both population
and economic prosperity is leading to increased demand for branded
pharmaceuticals. This new alliance will combine Dr. Reddy’s portfolio of
high quality branded pharmaceuticals together with GSK’s extensive sales
and marketing capabilities. Together we will be able to deliver more
medicines of value to more patients in these countries.”
Disclaimer
This press release includes forward-looking statements, as defined in
the U.S. Private Securities Litigation Reform Act of 1995. We have based
these forward-looking statements on our current expectations and
projections about future events. Such statements involve known and
unknown risks, uncertainties and other factors that may cause actual
results to differ materially. Such factors include, but are not limited
to, changes in local and global economic conditions, our ability to
successfully implement our strategy, the market acceptance of and demand
for our products, our growth and expansion, technological change and our
exposure to market risks. By their nature, these expectations and
projections are only estimates and could be materially different from
actual results in the future.
About Dr. Reddy’s
Established in 1984, Dr. Reddy’s Laboratories (NYSE: RDY) is an emerging
global pharmaceutical company. We fulfill our purpose of providing
affordable and innovative medicines through three core businesses:
Pharmaceutical Services and Active Ingredients, Global Generics and
Proprietary Products. Our products are marketed globally, with a focus
on India, US, UK, Germany and Russia. www.drreddys.com
About GSK
GlaxoSmithKline – one of the world’s leading research-based
pharmaceutical and healthcare companies – is committed to improving the
quality of human life by enabling people to do more, feel better and
live longer. www.gsk.com
Dr. Reddy’s Laboratories
Investors:
Kedar
Upadhye, +91-40-66834297
kedaru@drreddys.com
Raghavender
R, +91-40-66511529
raghavenderr@drreddys.com
Milan
Kalawadia, 908-203-4931 (North America)
mkalawadia@drreddys.com
Media:
M
Mythili, +91-40-66511620
mythilim@drreddys.com
S
Rajan, +91-40- 66511725
rajans@drreddys.com
