Dr Reddy’s ties up with GlaxoSmithKlineJune 15th, 2009 - 10:21 pm ICT by IANS
Mumbai, June 15 (IANS) Pharmaceutical major major Dr Reddy’s Laboratories Monday announced a partnership with Britain’s GlaxoSmithKline (GSK) to develop and market select products across emerging markets outside India.
“Under the terms of the agreement, 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,” the company said in a regulatory statement.
G.V. Prasad, vice-chairman and chief executive officer of Dr Reddy’s, said the tie-up would help the companies provide “affordable and innovative medicines to a much wider population”.
The products will be manufactured by Dr. Reddy’s and be licensed and supplied to GSK to market in emerging markets in Africa, the Middle East, Latin America and Asia Pacific, excluding India.
GSK will share revenues with Dr Reddy’s as per agreed terms.
Abbas Hussein, president (emerging markets) of GlaxoSmithKline, said: “Together we will be able to deliver more medicines of value to more patients in these countries.”
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