 "Dr Reddy's, TR-Pharm ink pact for biosimilar drugs in Turkey")
Dr Reddy's Laboratories entered into a strategic collaboration agreement with TR-Pharm — a pharma startup based out of Turkey.
As part of the agreement, three biosimilar products will be registered and subsequently commercialised by TR-Pharm in Turkey.
The Turkish company, which focuses on innovation with investments into R&D and a biotechnological manufacturing capability, will also manufacture the drug substance and drug product up on completion of its facility investment.
“Biosimilars are a key component of our investment strategy in Turkey to establish biotechnological API (active pharmaceutical ingredient) production for national use and regional exports. This agreement will not only enable more affordable medication but also support our research and development initiatives by building expertise within the country. We are pleased to have already started laying out the groundwork for manufacturing with Dr Reddy's for high quality biosimilar products," Mehmet G ker, general manager of TR-Pharm, said in a statement on Friday.
According to the company, TR-Pharm has begun laying out the groundwork for the technology transfer. This collaboration will be an important component of TR-Pharm's ongoing biological product development and manufacturing business in Turkey. The partnership will also enable Dr Reddy's to widen the global footprint of its biosimilar business.
"Turkey is a key emerging market and we are pleased to partner with TR-Pharm to ensure that patients in the region get access to our portfolio of high quality biosimilar products. Dr Reddy's is and remains committed to providing access to affordable and innovative drugs to populations around the world, and this partnership will make this happen in Turkey," said MV Ramana, executive vice-president and head (branded markets-- India and emerging countries).
At 2:23 pm, the company’s stock was trading at Rs 3,199, up 0.46%, on the BSE.