The Hindu Business Line : Dr Reddy's, ClinTec to jointly develop cancer drug

Dr Reddy's Laboratories Ltd has announced a co-development and commercialisation deal with the UK-based global clinical research organisation - ClinTec International - for an anti-cancer compound, DRF-1042.

Under the agreement, Dr Reddy's and ClinTec would co-develop DRF-1042, undertake phase-II and phase-III clinical trials with the aim of securing USFDA and EMEA approvals, Dr Reddy's said in a press release here on Wednesday. The company has already completed phase-I clinical trials for DRF-1042 in India.

Dr Reddy's said it would retain the commercialisation rights for the US and rest of the world markets (excluding ClinTec International territories). Under the terms of agreement, ClinTec would be granted the commercialisation rights for most of Europe including major European markets.

On commercialisation of the product, Dr Reddy's would receive royalty on sales by ClinTec in its designated territories and ClinTec would receive royalty on sales by Dr Reddy's in the US.

Further, Dr Reddy's said in the event either party out-licenses the drug product, the proceeds from such an arrangement would be shared by both the parties in a pre-determined ratio (excluding the company territories outside the US). The company would also retain the exclusive rights to supply commercial quantities of the drug product, Dr Reddy's said.

However, Dr Reddy's did not disclose the financial terms of the agreement.

Commenting on the deal, Dr Reddy's Chief Executive Officer, Mr G.V. Prasad said, "We are excited about the R&D collaboration with ClinTec International as it will bring a very exciting cancer drug to the market and is a step forward in our efforts to transform ourselves into a discovery led global pharmaceutical company. ClinTec International brings to this partnership their vast experience and in-depth expertise in the anti-cancer clinical development space."