Dr Reddy's Laboratories said that its wholly owned subsidiary, Dr. Reddy's USA and Ingenus Pharmaceuticals has entered into license agreement to commercialise Cyclophosphamide Injection RTD in United States (US).
Dr Reddys USA has licensed from Ingenus the exclusive rights to commercialise Cyclophosphamide injection in strengths of 500 mg/2.5mL; 1g/5mL; and 2g/10mL in US.Cyclophosphamide is used to treat cancer of the ovaries, breast, blood and lymph system, and nerves (mainly in children). Cyclophosphamide is also used for retinoblastoma (a type of eye cancer mainly in children), multiple myeloma (cancer in the bone marrow), and mycosis fungoides (tumors on the skin).
Dr. Reddys USA will commercialise the Cyclophosphamide injection in the United States and will pay Ingenus 50% of the estimated profit share, with no further consideration payable.
The parties will enter into a commercial supply agreement pursuant to which Ingenus will supply the product to Dr. Reddys USA.
According to IQVIA, the sales of the aforementioned Ingenus product for the preceding 12 months ended March 2024 totaled $ 51.8 million.
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The drug maker reported 36.25% increase in net profit to Rs 1,307 crore on 12.48% rise in revenue from operations to Rs 7,083 crore in Q4 FY24 over Q4 FY23.
The scrip shed 0.02% to currently trade at Rs 6,062 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
