Dr. Reddy's Laboratories Ltd today said its subsidiary Promius Pharma, LLC has out-licensed the future development, manufacturing, and commercialisation rights of "DFD-06", a topical high potency steroid, to Encore Dermatology Inc, a USA-based firm.
According to a press release , the drug is intended to be used for treatment of moderate to severe plaque psoriasis.
Dr Reddy's had earlier said DFD-06 is one of the 16 new drug applications that the company is working on.
Under the terms of the agreement, Encore will be responsible for the commercialisation of DFD-06 in the United States.
"We believe Encore and its management team are well positioned to realise the full potential of this asset DFD-06. We look forward to obtaining NDA approval this fall, enabling Encore's management team to quickly deliver this product to the providers and their patients," said Anil Namboodiripad, Senior Vice President, Proprietary Products, and President, Promius Pharma.
Promius Pharma is eligible to receive certain pre- and post-commercialisation milestone payments of up to USD 32.5 million, followed by fixed royalty payments on net sales.
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