The two global pharmaceutical companies enter a strategic alliance for emerging markets
By Gabe Perna
Dr. Reddy’s Laboratories and GlaxoSmith Kline, two global pharmaceutical companies, have announced a partnership today. The two companies will enter a strategic alliance to develop and market select products across emerging markets outside India.
The agreement states that GSK will get access to Dr. Reddy's rich portfolio of products. GSK, one of the world's leading research-based pharmaceutical and healthcare companies, will use its sufficient pipeline to distribute Dr. Reddy's stock of 100 branded pharmaceuticals in fast growing therapeutic segments such as cardiovascular, diabetes, oncology, gastroenterology and pain management.
“We are extremely pleased to combine forces with GSK, a global leader, to fully realize the potential of our strengths in technology, product development and manufacturing across a range of high growth emerging markets. We hope to take our purpose of providing affordable and innovative medicines to a much wider population through this partnership," stated GV Prasad, Vice Chairman & CEO, Dr. Reddy’s
The products, which will be manufactured by Dr. Reddy's and licensed and supplied by GSK, will be distributed in emerging markets such as Africa, the Middle East, Latin America, Asia Pacific excluding India. Revenues will be reported by GSK and shared with Dr. Reddy's, certain markets will be co-marketed by both companies.
Abbas Hussain, President Emerging Markets, GlaxoSmithKline stated: “This is another significant step forward in our strategy to grow and diversify GSK’s business in emerging markets. Growth in both population and economic prosperity is leading to increased demand for branded pharmaceuticals. This new alliance will combine Dr. Reddy’s portfolio of high quality branded pharmaceuticals together with GSK’s extensive sales and marketing capabilities. Together we will be able to deliver more medicines of value to more patients in these countries.”
For more: http://www.drreddys.com/ and http://www.gsk.com/