Dr Reddy's completes purchase of Fondaparinux

Pays $17.5 mn to Australian partner Alchemia towards purchase

Dr Reddy's Laboratories today said it has completed purchase of anti-coagulant drug Fondaparinux sodium from its Australian partner Alchemia Limited announced in September.

The company has paid $17.5 million to Alchemia towards purchase of world-wide exclusive intellectual property rights for the drug.

Shareholders of Australian drug discovery and development company have approved sale of Fondaparinux at company's annual general meeting held on November 10, post which Dr Reddy's executed a purchase and sale agreement.

The agreement is effective July, 2015, according to a press release. Fondaparinux is a generic version of anticoagulant drug Arixtra.