Mumbai: Drug maker Natco Pharma Ltd said on Wednesday it has entered into an agreement with Dr Reddy’s Laboratories Ltd to jointly develop and sell generic cancer products.
Dr Reddy’s will pay an undisclosed amount upfront for securing the rights to sell the products and for capacities to make the drugs, Natco said in a statement to the stock exchange, adding the firms also have a profit-sharing agreement in place.
The deal covers oral and injectible drugs, including paclitaxel, the generic form of Abraxis Bioscience’s breats cancer drug Abraxane.
Natco will exclusively supply the drugs to Dr Reddy’s, which will sell them globally, it said. The deal could be expanded to include more products, Natco added.
Natco shares ended up 8.9% at Rs71.30 in a firm Mumbai market.