Dr. Reddys Laboratories Ltd.

Dr Reddy's Laboratories has entered into a definitive agreement with BioDelivery Sciences International, Inc., to sell its US and Canada territory rights for Elyxyb 25 mg/mL to the US-based firm. Elyxyb is indicated for the acute treatment of migraine with or without aura in adults.

Under the terms of the pact, Dr Reddy's will receive $6 million upfront upon closing, followed by $ 9 million one year from closing. Further, it is eligible to receive event-based, sales-based milestones and quarterly earn-out payments.

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.