Reddys Acquires Trigenesis
Date: Thursday , June 26, 2008
Indian pharma major Dr. Reddy’s Laboratories acquired Trigenesis Therapeutics,Inc., a US-based privately owned dermatology company. This will allow Dr. Reddy’s to get a firm toehold on the prescription dermatology market.
The company will now get access to products and propreitary drug delivery technology platforms for developing a pipeline of differentiated drugs in the dermatology segment. The total investment outlay is $11 million. Dr. Reddy’s will also have to continue making payments to Skye Pharma Plc, and SilvaFoam LLC, according to existing areements those companies have with Trigenesis.
Trigenesis is primarily a drug development company with rights and licenses on various propretary drug delivery technologies. Dr Reddy’s Labs withdrew its challenge on the patent for Glaxo SmithKline’s anti-nausea drug Zofran. This means Dr. Reddy’s will not be able to enter the market for the drug till the patent expires, which is to happen in 2005.