Bradley Pharma has expectedly evoked good response. Bidders for Bradley include home grown Dr Reddy’s, a few global generic players and some drugmakers who have backing from private equity companies.

These include lesser known Archimedes Pharma promoted by Warburg Pincus and Nycomed which has tacit support from Blackstone. Typically, the bid value in an auction process goes through the roof when bidders evince excessive interest.

With a product portfolio of high margin dermatology products, Bradley has revenue of $144 mln and 2006 profit of nearly $ 9 mln. The bids received are in the range of $ 300 mln. Observers say Bradley shares are also trading well with moderate market capitalisation. But, if private equity players raise the value too high, Dr Reddy’s may opt out.

A lot depends on what comes out from the management presentaions to be held in the next few weeks and how the finances are structured. This buy-out game looks set for exciting times !

Its always enlightening to hear Dr Anji Reddy speak on drug discovery research. So when I rushed to meet him yesterday at Leela having dodged all sorts of hurdles in this rain ravaged city, I was apologetic to be a good one hour late for the meeting. Dr Anji Reddy was waiting calmly at the lobby and quickly took me and my camera team to his room.

Without waiting for the formalities Dr Anji Reddy was quick to speak out on the Avandia debacle and why his gut worked on his own molecule Balaglitazone.

A man who had to battle several adverse conditions for decades to reach where he is today, Dr Reddy defies his age and reflects an undying source of energy when it comes to discovery research.

He recounted his long wish to become one among the top ten drugmakers in the world and hoped it becomes a reality during his lifetime. For every break Dr reddy took between questions, it appeared he was wanting to see more on his molecules and how he is working on not just the first in class compounds but also the bext in class drugs.

He detailed his conversations with J P Garnier of Glaxo who wondered how a small company is building pipeline of drugs that could be enviable very soon.
And yes he did express his pride in his researchers from the Boston Labs to the few in Hyderabad.

I had been wanting to ask Dr Reddy on what he feels about Ranbaxy and Cipla. Ranbaxy he said is a great company and will do well for sure..adding that his portfolio maanager had recently picked for him shares in Ranbaxy. He had more intimate discussions on Dr Yusuf Hamied of Cipla. Dr Ani Reddy confessed canidly that he considers Dr Yusuf Hamied his guru but in one of the mails written to Dr Hamied, he had insisted that Cipla step into drug discovery research.

Now that Glenmark is farming out molecules at a brisk pace, Dr Anji reddy is proud to say that he had seen this potential years ago adding that Glenn is a smart young man to strike deals.

Even as I write this blog, Dr Anji Reddy is thinking if he should restart work on the torcetrapib-like drug that had to be dumped by Pfizer, last year.