Drug firm Dr Reddy's Laboratories today said it has signed a pact with Russia-based R-Pharm for co-development of high technology products and collaboration in manufacturing and marketing.
The company has entered into a licencing, technology transfer, manufacturing and marketing agreement with R-Pharm of Russia, Dr Reddy's Laboratories said in a statement.
"The agreement allows us to bring innovative medicines to the Russian people with active collaboration of a local pharmaceutical company-R Pharm," Dr Reddy's MD and COO Satish Reddy said.
The collaboration is in the area of high technology and works on a profit sharing model.
"It will entail licensing of manufacturing know how of products by Dr Reddy's, local manufacturing of products in Russia, co-development of high technology products and knowledge sharing between both parties at regular intervals," it added.
Commenting on the pact, R-Pharm Chairman Alexey Repik said: "This agreement helps address unmet medical needs in important therapeutic areas and make more affordable to patients in Russia."
The agreement was signed here at the fourth India Russia Forum on Trade and Investment.
Dr Reddy's claimed that it is the largest Indian pharmaceutical company in Russia.
Shares of Dr Reddy's today closed at Rs 1,687.75 on the Bombay Stock Exchange, down 1.25 per cent from its previous close.
