Dr. Reddys Laboratories Ltd.

Dr. Reddy's Laboratories has signed a commercialization deal with Hatchtech, an Australian pharmaceutical company developing an innovative prescription head lice product, Xeglyze Lotion. The exclusive rights for this product are applicable for the territories of the United States, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela.

Additionally, Hatchtech will be filing its New Drug Application for Xeglyzew with the US Food and Drug Administration (FDA). If approved, the product will be marketed in the United States by Promius Pharma, a wholly-owned specialty company of Dr. Reddy's Laboratories. As part of the agreement Dr. Reddy's will pay Hatchtech an upfront amount of $10MM, up to $ 50 million based on pre commercialization milestones and an undisclosed amount based on post commercialization milestones, linked to achievement of annual net sales targets.

Dr. Reddy’s is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.