Dr.Reddy’s in pact to market Gland Pharma’s injectable drugs in US
Dr.Reddy's to market and distribute a diverse portfolio of eight injectable abbreviated new drug applications in the US
Hyderabad: Dr.Reddy’s Laboratories Ltd on Wednesday said it had entered into a strategic collaboration with Gland Pharma Ltd 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 US," Dr.Reddy’s said in a statement.
The company didn’t provide financial details of the deal.
The combined sales of branded and generic versions of the products in the US are estimated at around $1 billion for the 12 months ended August, Dr.Reddy’s said quoting US-based healthcare information provider IMS Health.
Also Read: Dr. Reddy’s posts 59% decline in net profit
“Dr.Reddy’s Laboratories has a strong track record in developing, marketing and distributing generic injectables in the US," said Alok Sonig, executive vice president and head of North America at Dr. Reddy’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," Sonig said.
Gland Pharma, a Hyderabad-based specialty injectable maker, was acquired by Shanghai Fosun Pharmaceutical (Group) Co. Ltd, a unit of China-based Fosun group, in July for $1.26 billion.
Shares of Dr.Reddy’s gained 1.34% to close at Rs3,243.30 on BSE, while the benchmark Sensex declined 0.91% to end at 27,836.51 points.
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