Comments
Pharma major Dr Reddy's Laboratories Ltd is looking for partners to further develop its flagship anti-diabetes drug, Balaglitazone.
“We are currently searching for partners for developing this molecule. At the same time, discussions are also on with some select pharma majors,” Dr K Anji Reddy, Chairman, Dr Reddy's Laboratories, told newspersons after inaugurating a branch of Dr Mohan's Diabetes Specialities Centre here on Friday.
The molecule had completed half of Phase III trials and there was a requirement of ‘several million dollars,' to take it forward, he added.
The Hyderabad-based company had announced last year that it had received positive results from the initial Phase III notices. Dr Reddy's and Rheoscience, an arm of Nordic Bioscience A/S, are working on the drug candidate.
When asked on the likely date of drug coming to the market, Dr Anji Reddy said: “It is very tough to say. I don't know whether it would happen or not.”
NO STAKE SALE
When asked on the consistent market talk on the possibility of off-loading promoters' stake in Dr Reddy's he said there was no such proposal.
Addressing the gathering at the branch inaugural earlier, Dr Reddy said his company had achieved good progress in Russia. “Even our field force there is so efficient that global major Novartis had given its product for us to market there,” he said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.