Dr. Reddy's Laboratories (NYSE: RDY) and Aegis Therapeutics, LLC (Aegis) today announced a partnership providing Dr. Reddy's access to Aegis' Intravail® drug delivery technology for certain undisclosed therapeutics currently being marketed with annual worldwide sales in excess of U.S. $1 billion. Financial terms were not disclosed.
Commenting on the collaboration, Raghav Chari, Senior Vice President-Proprietary Products business, Dr. Reddy's said, "We are extremely pleased to be working with Aegis and gaining access to their patented Intravail® drug delivery technologies. The results of successful human studies completed to date will provide a unique product offering, satisfying a significant unmet need in the market. We hope this will continue to provide affordable and innovative medicines to a much wider population."
Edward T. Maggio, Chief Executive Office, Aegis Therapeutics, added, "Dr. Reddy's has a worldwide reputation for developing innovative, high quality branded pharmaceuticals. We are pleased to be working with Dr. Reddy's on this exciting application of our technology, another significant milestone in Aegis' commercialization strategy."
The products under the exclusive license agreement will be developed, manufactured and marketed worldwide by Dr. Reddy's.
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