Dr. Reddy's Laboratories and Australian drug discovery and development company Alchemia have entered into a $17.5 million agreement giving the former worldwide exclusive intellectual property rights for anti-coagulant drug, a statement said on Friday.
The sale is conditional on shareholder approval, as the sale constitutes a disposal of the company's main undertaking as per ASX listing rules, said the statement by Alchemia.
An anti-coagulant drug, fondaparinux sodium is generic version of Arixtra drug and has been approved by US and Europe for treating deep vein thrombosis and pulmonary embolism, it added.
Alchemia markets Fondaparinux in the US and other markets through partner Dr. Reddy Laboratories, the statement added.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app