Dr. Reddy's Laboratories (BSE: 500124) (NSE: DRREDDY) (NYSE: RDY) today
announced that it has completed the purchase of worldwide exclusive
intellectual property rights for Fondaparinux sodium, its generic
anti-coagulant drug, from its Australian partner, Alchemia Limited.
Earlier, the company had signed a term sheet for this transaction in
September, 2015.
Alchemia’s shareholders approved the sale of Fondaparinux at the
Company’s annual general meeting held on 10 November 2015, post which
Dr. Reddy’s and Alchemia have executed a purchase and sale agreement,
together with various patent assignment deeds. Alchemia has received USD
17.5 million from Dr. Reddy’s as consideration for the sale. The
agreement is effective July, 2015.
About Fondaparinux
Fondaparinux is a generic version of the anticoagulant drug Arixtra®.
Arixtra® is approved in the US and Europe for the treatment of deep vein
thrombosis (DVT) and pulmonary embolism (PE) and is also indicated for
the prevention of DVT after major surgery, such as knee and hip
replacement. Fondaparinux is recommended by the American College of
Chest Physicians and received the European Society of Cardiology’s
highest recommendation for use in acute coronary syndrome. Fondaparinux
is a synthetic pentasaccharide which is difficult to manufacture on a
commercial scale. Alchemia has granted patents over novel synthetic
pathways that prevent others from using Alchemia’s proprietary process
to manufacture Fondaparinux until at least 2022.
About Alchemia
Alchemia is a drug discovery and development company marketing
Fondaparinux in the US and other markets, via partner Dr. Reddy’s
Laboratories. For more information, log on to: www.alchemia.com.au.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company
committed to accelerating access to affordable and innovative medicines
because it believes Good Health Can’t Wait. Through its three businesses
– Pharmaceutical Services & Active Ingredients, Global Generics and
Proprietary Products – the company offers a portfolio of products and
services that includes active pharmaceutical ingredients (APIs), custom
pharmaceutical services, generics, biosimilars and differentiated
formulations. With operations in 26 countries across the globe, the
major therapeutic areas of Dr. Reddy’s are gastro-intestinal,
cardiovascular, diabetology, oncology, pain management and
anti-infectives. For more information, log on to: www.drreddys.com.
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