Dr Reddys to sell migraine drug Elyxyb rights in US, Canada to BioDelivery Sciences International
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Hyderabad: Dr. Reddy's Laboratories Limited has recently announced that the company has entered into a definitive asset purchase agreement, pursuant to which Dr. Reddy's will sell its U.S. and Canada territory rights for ELYXYB (celecoxib oral solution) 25 mg/mL, to BioDelivery Sciences International, Inc. (BDSI).
Under the terms of agreement, Dr. Reddy's will receive U.S.$6 million upfront upon closing followed by U.S.$9 million one year from closing. Further, Dr. Reddy's is eligible to receive event based, sales based milestones and quarterly earn-out payments.
Dr. Reddy's Laboratories Ltd. is an integrated pharmaceutical company headquartered in Hyderabad, Telangana, India.
Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology.
Dr. Reddy's operates in markets across the globe. The company's major markets include - USA, India, Russia & CIS countries, and Europe.
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