Business Standard: October 27, 2016
Hyderabad: Dr Reddy's Laboratories announced on Wednesday that it has entered into a strategic collaboration with Hyderabad-based Gland Pharma to market and distribute a diverse portfolio of eight injectable Abbreviated New Drug Applications (ANDAs), or alternatively called as generic drug approvals.
The portfolio is a mix of filed ANDAs and 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, according to a statement issued by the company.
The combined sale of branded and generic versions of the products in the US is approximately $1 billion for the most recent twelve months ending in August, 2016, it said citing the IMS Health data. The company did not share any financial details involving this arrangement.
In July this year Chinese company Shanghai Fosun Pharmaceutical (Group) Co had acquired 86 percent stake in Gland Pharma for around $ 1.3 billion. Gland Pharma is an established player in manufacturing of sterile dosage forms. Dr Reddy's had sourcing tie-ups with the company in the past.
Alok Sonig, executive vice president and head of North America said: "We are excited about this opportunity. Dr Reddy's Laboratories has a strong track record in developing, marketing and distributing generic injectables in the US. 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."
Commenting on the collaboration, Srinivas Sadu, chief operating officer of Gland Pharma said: "We are happy to expand our collaboration with Dr Reddy's for marketing and distribution of Gland products in US and other Ex US markets. Dr Reddy's has an impressive track record of commercialising injectables products in the US, and we are confident that our partnership will continue to grow."
Dr Reddy's has been developing its injectables business and recently launched Paricalcitol Injection, a therapeutic equivalent generic version of Zemplar, which is used in treatment of patients with chronic kidney disease.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.