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Dr Reddy’s Laboratories Ltd,, through its wholly owned subsidiary Promius Pharma, has out-licensed the future development, manufacturing, and commercialisation rights of DFD-06, a topical high-potency steroid, to Encore Dermatology.
The drug is intended to be used for treatment of moderate to severe plaque psoriasis.
Under the terms of the agreement, Encore will be responsible for the commercialisation of DFD-06 in the US. Promius Pharma is eligible to receive certain pre- and post-commercialisation milestone payments of up to $32.5 million, followed by fixed royalty payments on net sales.
“We believe Encore and its management team are well positioned to realise the full potential of the asset DFD-06,” Anil Namboodiripad, Senior Vice-President, Proprietary Products, and President, Promius Pharma, said in a release issued here on Tuesday.
“We look forward to obtaining NDA approval this fall,” he added. Dr Reddy’s scrip gained 2.67 per cent on Tuesday on the BSE end at ₹1,984.85.
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