Dr Reddy's out-licenses steroid DFD-06 to Encore Dermatology
Drug major Dr Reddy's Laboratories today said it has out-licensed the future development, manufacturing and commercialisation rights of its topical high potency steroid DFD-06 to Encore Dermatology.
The drug is intended to be used for treatment of moderate to severe plaque psoriasis.
"Under the terms of agreement, Encore will be responsible for the commercialisation of DFD-05 in the United States," Reddy's Laboratories said in a regulatory filing.
Promius Pharma, a wholly owned subsidiary of Dr Reddy's Laboratories, is eligible to receive certain pre and post commercialisation milestone payments of up to USD 32.5 million, followed by fixed royalty on net sales, it added.
Shares of Reddy's Laboratories were trading 1.08 per cent higher at Rs 1,954 on BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.