JANUARY 25, 2010, HYDERABAD and SAN DIEGO — Dr. Reddy’s Laboratories (NYSE: RDY) and Aegis Therapeutics, LLC (Aegis) today announced a partnership providing Dr. Reddy’s access to Aegis’ Intravail® drug delivery technology for certain undisclosed therapeutics currently being marketed with annual worldwide sales in excess of U.S. $1 billion. Financial terms were not disclosed.
Commenting on the collaboration, Raghav Chari, Senior Vice President-Proprietary Products business, Dr. Reddy’s said, “We are extremely pleased to be working with Aegis and gaining access to their patented Intravail® drug delivery technologies. The results of successful human studies completed to date will provide a unique product offering, satisfying a significant unmet need in the market. We hope this will continue to provide affordable and innovative medicines to a much wider population.”
Edward T. Maggio, Chief Executive Office, Aegis Therapeutics, added, “Dr. Reddy’s has a worldwide reputation for developing innovative, high quality branded pharmaceuticals. We are pleased to be working with Dr. Reddy’s on this exciting application of our technology, another significant milestone in Aegis’ commercialization strategy.”
The products under the exclusive license agreement will be developed, manufactured and marketed worldwide by Dr. Reddy’s.
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
About Dr. Reddy’s
Established in 1984, Dr. Reddy’s Laboratories (NYSE: RDY) is an emerging global pharmaceutical company. We fulfill our purpose of providing affordable and innovative medicines through three core businesses: Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products. Our products are marketed globally, with a focus on India, US, UK, Germany and Russia. www.drreddys.com
About Aegis Therapeutics
Aegis Therapeutics LLC is a drug delivery technology company commercializing its patented drug delivery and drug formulation technologies through product-specific licenses. Our patented Intravail® drug delivery technology enables the non-invasive delivery of a broad range of protein, peptide and non-peptide macromolecular and small molecule therapeutics via the intranasal administration route with exceptionally high and unmatched bioavailability that can currently only be achieved by injection. Intravail® has also been successfully applied to buccal, oral, and rectal administration of both small molecule and peptidic drugs. Our patented ProTek® technology allows creation of proprietary, easily manufacturable, and stable aqueous or lyophilized dosage forms that maintain the integrity and physiological activity of many protein and peptide therapeutics. ProTek® technology is applicable to injectable, intranasal, and other dosage forms. For more information about Aegis, please visit the Aegis website at: www.aegisthera.com.