Pharmazz announced that it has entered into a license agreement with Dr. Reddy’s Laboratories Limited, a global pharmaceutical company, to commercialize a first-in-class innovative drug Centhaquine in India. Developed by Pharmazz for potential global use, Centhaquine is a resuscitative agent presently indicated for treating hypovolemic shock by Drugs Controller General of India. As per the agreement, Dr. Reddy’s has received exclusive rights to market and distribute Centhaquine in India. Pharmazz will be entitled to upfront payments and royalties. Dr. Reddy’s will market the product under the brand name Lyfaquin, which it shall own. In addition to India, Dr. Reddy’s also receives marketing rights for Lyfaquin from Pharmazz for Nepal. The inventor, Dr. Prof. Anil Gulati, M.D., Ph.D., who is the CEO and Chairman of the Board of Pharmazz, said: “India’s emergence as a hub for developing and introducing innovative medicines is a remarkable achievement. It reflects the country’s growing capabilities in research and development within the pharmaceutical sector. It is a large step for Pharmazz to partner with Dr. Reddy’s, a leading global pharmaceutical company from India.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
