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Dr. Reddy’s Laboratories and GlaxoSmithKline have now engaged in a strategic partnership which has caused the shares of the former to be in the limelight. Under this partnership, the multinational drug maker will sell the domestic generic products of the firm in Latin America, Middle East, Africa and Asia Pacific markets, leaving India.
As per the norms of the partnerships, the drug manufacturer, GlaxoSmithKline will have access to the portfolio of Dr. Reddy’s. About 100 branded drugs in the therapeutic segments like diabetes, cardiovascular, diabetes, pain management, oncology and gastroenterology are in pipeline for future.
These drugs will be manufactured by Dr. Reddy’s Laboratories and the licensing and supply will be done by GlaxoSmithKline. According to the terms of this strategic partnership, the revenues and profits which will be reported by GSK will be shared between Dr. Reddy’s. The spokesperson for Dr. Reddy’s has also quoted that certain products will be marketed by both the Dr. Reddy’s Laboratories and GlaxoSmithKline together.
The shares belonging to Dr. Reddy’s Laboratories took a steep climb by about 4.18 per cent from the existing Rs. 740.20 at 10.30 am where as the shares for the drug manufacturing giant, GlaxoSmithKline fell by 0.17 per cent and is now about Rs. 1250.
