GSK, Dr. Reddy's to collaborate on branded drugs

6/15/2009

LONDON One of the world’s largest pharmaceutical companies and a drug maker focused on generics plan to collaborate to drive sales growth in developing countries.

United Kingdom-based GlaxoSmithKline and India-based Dr. Reddy’s Labs announced Monday an agreement to develop and market Dr. Reddy’s branded drugs in several emerging markets.

“This is another significant step forward in our strategy to grow and diversify GSK’s business in emerging markets,” GSK president for emerging markets Abbas Hussain stated. “Growth in both population and economic prosperity is leading to increased demand for branded pharmaceuticals.”

Under the terms of the agreement, which took effect Monday, GSK will gain exclusive access to Dr. Reddy’s portfolio and pipeline of more than 100 branded drugs and market them in Africa, the Middle East, the Asia Pacific region and Latin America.

“We are extremely pleased to combine forces with GSK, a global leader, to fully realize the potential of our strengths in technology, product development and manufacturing across a range of high-growth emerging markets,” Dr. Reddy’s CEO and vice chairman G.V. Prasad said.

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