Companies

Dr Reddy’s sells its rights for neurology drugs to Upsher-Smith

Our Bureau Hyderabad | Updated on June 14, 2019 Published on June 14, 2019

Dr Reddy’s Laboratories Ltd has entered into a definitive agreement with Upsher-Smith Laboratories, LLC to sell its US and select territory rights for Zembrace Symtouch (sumatriptan injection) and Tosymra (sumatriptan nasal spray).

The products are commercialised through its wholly-owned subsidiary Promius Pharma, LLC.

Under the agreement, Dr. Reddy’s will receive $70 million as upfront consideration, $40.5 million in near-term milestones and additional financial considerations, including existing contractual obligation and inventory. Subsequently, Dr Reddy’s will receive sales-based royalties on a quarterly basis.

The closing of the transaction is subject to various customary closing conditions, including anti-trust review under the Hart-Scott-Rodino Act.

“We look forward to our partnership with Upsher-Smith,” said G.V. Prasad, Co-Chairman and CEO, Dr. Reddy’s Laboratories, in a release.

“We are excited to partner with Upsher-Smith, which has established a strong presence in neurology,” said Anil Namboodiripad, Ph.D., Senior Vice-President, Proprietary Products and Head, Promius Pharma.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on June 14, 2019
This article is closed for comments.
Please Email the Editor