Dr. Reddys Laboratories Ltd.

Dr. Reddy’s Laboratories through its wholly owned subsidiary Promius Pharma, LLC, has out-licensed the future development, manufacturing, and commercialization rights of DFD-06, a topical high potency steroid, to Encore Dermatology Inc. The drug is intended to be used for treatment of moderate to severe plaque psoriasis.

Under the terms of the agreement, Encore will be responsible for the commercialization of DFD-06 in the United States. Promius Pharma is eligible to receive certain pre- and post-commercialization milestone payments of up to $32.5 million, followed by fixed royalty payments on net sales.

Dr. Reddy’s Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.