"Alchemia has been working with Dr Reddy's on a number of projects over a period of years and we recognise its capabilities and excellent international reputation as a manufacturer of FDA approved pharmaceuticals," said Dr Ramsdale. "In addition, we foresee significant financial and regulatory benefits by having a vertically integrated partner."
Dr Reddy's is recognised as a leader in the generic drug market in the US where it has 31 approved ANDAs (generic drug approvals) and has 58 pending final approval. For the nine months ended December 31, 2006, Dr. Reddy's recorded revenues of US$ 408 million from the sales of generic drugs in the U.S.
"Reddy's also has a marketing presence in India, Germany, Russia and China which are important future markets. In addition, Reddy's is a highly experienced manufacturer of API (Active Pharmaceutical Ingredients) with over 100 Drug Master Filings (DMFs) in the U.S." said Dr Ramsdale.
