DRL arm Betapharm bags five contracts from A-O-K

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DRL arm Betapharm bags five contracts from A-O-K

Indian drug maker Dr Reddy's German subsidiary Betapharm has received five contracts for bulk supply of drugs to German insurer A-O-K. These are five of the eight contracts which it won in December 2008 but were put on hold after there were complaints against the tender process.

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Indian drug maker Dr Reddy's German subsidiary Betapharm has received five contracts for bulk supply of drugs to German insurer A-O-K. These are five of the eight contracts which it won in December 2008 but were put on hold after there were complaints against the tender process. DRL will start supply from June 1 for the contracts received so far sources indicate.CNBC-TV18's Sriram Iyer reports.

Here is a verbatim transcript of Sriram Iyer's comments on CNBC-TV18. Also see the accompanying video.

We have learnt that the company has won five out of the eight contracts it had received in December, but then they were put on hold after some of the companies which lost the bids, went to the court complaining about tender processes not being exactly fair. So, five of them have now been confirmed and the case is now solved. The contracts have been given out again and DRL itself has received five of them right now. The fate of the other three is not known as yet.

Simultaneously, Ranbaxy has won two contracts from AOK. Earlier in December, it did not receive any contracts, so there is some change with what is happening with the tender process AOK is in. We will have to wait and see what happens to the other three contracts. The supply starts from June 1 of this year.

Also see: Dr Reddy's to exit small generic drug markets abroad