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| Dr Reddy's signs strategic pact with GSK |
| Press Trust of India / Mumbai Jun 15, 2009, 20:58 IST |
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Drug maker Dr Reddy's Laboratories today announced a strategic partnership with GlaxoSmithKline Plc (GSK) to develop and market select products across emerging markets outside India.
Under the agreement, GSK would gain access to Dr Reddy's more than 100 branded pharmaceuticals in therapeutic segments such as cardiovascular, diabetes, oncology, gastroenterology and pain management, Dr Reddys Laboratories said in a filing with the Bombay Stock Exchange.
"We are extremely pleased to combine forces with GSK, a global leader, to fully realise the potential of our strengths in techology, product development and manufacturing across a range of high growth emerging markets," Dr Reddy's Vice-Chairman GV Prasad said.
"We hope to take our purpose of providing affordable and innovative medicines to a much wider population through this partnership," he said.
"This is another significant step forward in our strategy to grow and diversify GSK's business in emerging markets," said Abbas Hussain, president, emerging markets GlaxoSmithKline.
The products would be manufactured by Dr Reddy's and licenced and supplied to GSK in various emerging markets such as Africa, the Middle East, Latin America and Asia Pacific excluding India.
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