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| Dr Reddy's, GSK tie up for emerging mkts |
| BS Reporter / Hyderabad Jun 16, 2009, 00:24 IST |
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 Hyderabad-based pharmaceutical major Dr Reddy’s Laboratories (DRL) has entered into a partnership with GlaxoSmithKline (GSK) to develop and market select products across emerging markets outside India.
Under the terms of the agreement, which is effective immediately, GSK will gain access to DRL’s diverse portfolio and a pipeline of more than 100 branded pharmaceuticals in fast-growing therapeutic segments, such as cardiovascular, diabetes, oncology, gastroenterology and pain management.
“We are extremely pleased to combine forces with GSK, a global leader, to fully realise the potential of our strengths in technology, product development and manufacturing across a range of high growth emerging markets. We hope to take our purpose of providing affordable and innovative medicines to a much wider population through this partnership,” DRL’s Vice-Chairman and CEO G V Prasad stated in a press release.
The products will be manufactured by DRL and will be licensed and supplied to GSK in various emerging markets such as Africa, West Asia, Latin America and Asia-Pacific, excluding India. Revenues will be reported by GSK and will be shared with DRL as per agreed terms. In certain markets, products will be co-marketed by DRL and GSK.
“This is another significant step forward in our strategy to grow and diversify GSK’s business in emerging markets. Growth in both population and economic prosperity is leading to increased demand for branded pharmaceuticals. This new alliance will combine Dr Reddy’s portfolio of high quality branded pharmaceuticals together with GSK’s extensive sales and marketing capabilities. Together, we will be able to deliver more medicines of value to more patients in these countries,” GSK’s President (emerging markets) Abbas Hussain said.
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