Business Daily from THE HINDU group of publications
Friday, Sep 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Sep 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Overseas Investments
Our Bureau Hyderabad, Sept. 18 Pharma major Dr Reddy’s Laboratories Ltd has launched Promius Pharma LLC, a wholly-owned subsidiary, for specialty business in Bridgewater, US. “The launch of Promius Pharma is a milestone in our strategy of building a sustainable and profitable branded business. We are committed to establishing a leading position in the US dermatology market,” Mr G. V. Prasad, Vice-Chairman and Chief Executive Officer, Dr Reddy’s said in a release. The commercial launch of Promius is planned for the third quarter of this year. It would initially focus on the branded dermatology market. It already has three in-licensed and co-developed dermatological products which are scheduled to be launched in the current financial year. The portfolio comprises topical drugs for the treatment of psoriasis, and types of dermatitis. Further, a pipeline of topical products for Promius is being developed at the integrated product development facility in Hyderabad. “We are looking to develop a best in class company and are bringing together the most talented people from a cross section of dermatology companies. We have hired a nationally deployed sales force and are currently manufacturing commercial products,” Mr Jeffrey Wasserstein, Executive Vice-President of Dr Reddy’s (North America) and Promius Pharma said. The Hyderabad-based company’s scrip declined 0.92 per cent at BSE on Thursday and closed at Rs 518.85. Dr Reddy's launches new drug Dr Reddy's opens office in Nigeria Dr Reddy's launches dermatology drug More Stories on : Overseas Investments | Pharmaceuticals | Dr. Reddy's Laboratories Ltd
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