India: Dr Reddy’s to buy IP rights of Alchemia’s anti-coagulant drug for $17.5m

India: Dr Reddy’s to buy IP rights of Alchemia’s anti-coagulant drug for $17.5m

Visual sourced from Dr Reddy's website

Dr Reddy’s Laboratories Ltd has entered into an agreement with Australia’s Alchemia Ltd, a drug discovery and development company, to buy worldwide exclusive intellectual property rights of its generic anti-coagulant drug fondaparinux sodium for a cash consideration of $17.5 million (Rs 116 crore).

The sale is, however, conditional on shareholder approval, as the sale constitutes a disposal of the company’s main undertaking per the ASX Listing Rules, Alchemia said in a press statement.

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