Under the agreement, Dr.Reddy’swill receive U.S.$70 million as upfront consideration, U.S.$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 antitrust review under Hart-Scott RodinoAct.“This i-recognized migraine specialty business in the US and we look forward to our partnership with Upsher-Smith” said G.V. Prasad, Co-Chairman and CEO, Dr. Reddy’sLaboratories Limited. “Tosymraand Zembrace were designed and developed with the goal of addressing unmet needs of large but discrete segments of patients suffering from episodic migraine who need options other than their current therapies. We are excited to partner with Upsher-Smithwhichhas establisheda strong presence in neurology” said Anil Namboodiripad, Ph.D., Senior Vice President, Proprietary Ps a testament to our strong R&D capabilities, and delivering solutions tounmet needs of patients. In a short time, we created a wellroducts and Head, Promius Pharma.
About Dr. Reddy’s:
Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe.
About Promius Pharma LLC:
Promius Pharma is a wholly-owned subsidiary of Dr. Reddy’s Laboratories, one of the largest and most respected pharmaceutical companies in the world. Promius Pharma is committed to bringing new products to market that meet patients’ needs.
About Upsher-Smith Laboratories, LLC:
Upsher-Smith Laboratories, LLC is a trusted U.S. pharmaceutical company that strives to improve the health and lives of patients through an unwavering commitment to high-quality products and sustainable growth. Since 1919, it has brought generics and brands to a wide array of customers backed by an attentive level of service, strong industry relationships, and dedication to uninterrupted supply.