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Home Industry News Dr Reddy’s says it is pleased with GSK agreement

Dr Reddy’s says it is pleased with GSK agreement

17th June 2009

Dr Reddy’s is pleased to work with GlaxoSmithKline (GSK), it has asserted.

The companies have signed an agreement that will enable the latter firm to develop and manufacture a number of the former’s branded pharmaceuticals in emerging markets.

GSK will gain exclusive access to more than 100 medicines for a variety of medical conditions such as diabetes, cardiovascular problems and pain.

Dr Reddy’s will receive a share of the revenues as stated in the agreed terms.

Vice-chairman and chief executive officer of the business GV Prasad said the collaboration will strengthen the firm’s technology, product development and manufacturing activities.

“We hope to take our purpose of providing affordable and innovative medicines to a much wider population through this partnership,” he commented.

GSK’s president of emerging markets Abbas Hussain added the alliance would combine its sales and marketing capabilities with Dr Reddy’s portfolio of quality drugs.

The latter company was founded in 1984. It now focuses on marketing its products in Europe, Russia, India and the US.

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