Public CompanyTransgene in pact with Dr Reddy's for obesity drug
Biotechnology firm Transgene Biotek today said it has signed a pact with Dr Reddy"s Lab to manufacture a drug named, Orlistat used in treating obesity.
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The company has entered into a licensing and technology transfer agreement with Dr Reddy"s Laboratories for the out-licensing of a technology to manufacture Orlistat, Transgene Biotek said in a filing to the Bombay Stock Exchange.
Under the terms of the compact, effective in due course of time, Dr Reddy"s would gain worldwide rights to a unique technology to produce and commercialise Orlistat active pharmaceutical ingredients (API) which is developed exclusively by Transgene Biotek.
"The new alliance combines Transgene Biotek"s technology with Dr Reddy"s manufacturing skills, and extensive global sales and marketing capabilities" the company said.
Transgene Biotek would receive an upfront payments for certain commercial milestone, and royalties on the sale of Orlistat API in all countries worldwide.
Orlistat is used in the treatment of obesity, including weight loss and weight maintenance.