Exhibit 99.1
![]() | Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
June 12, 2024
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Dear Sir/Madam,
Ref: | Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 |
This is to inform that Dr. Reddy’s Laboratories, Inc., a step down wholly owned subsidiary of the Company (referred to hereinafter as “Dr. Reddy’s USA”), and Ingenus Pharmaceuticals, LLC, a Delaware limited liability company, (“Ingenus”), have entered into license agreement pursuant to which Dr. Reddy’s USA has licensed from Ingenus, the exclusive rights to commercialize Cyclophosphamide Injection RTD (500 mg/2.5mL; 1g/5mL; 2g/10mL) in the United States (“U.S.”). The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are as hereunder:
1 | Name of the entity | : | Ingenus Pharmaceuticals, LLC, a Delaware limited liability company |
2 | Area of agreement | : | In-license by Dr. Reddy’s USA of Cyclophosphamide Injection RTD |
3 | Domestic/ international | : | International – Both the entities are U.S. based organizations, and the territory in scope is the U.S. |
4 | Share exchange ratio/ JV ratio | : | Not applicable |
5 | Scope of business operation of agreement | : | Dr. Reddy’s USA obtained the exclusive rights to commercialize Cyclophosphamide Injection RTD (500 mg/2.5mL; 1g/5mL; 2g/10mL) in the U.S. |
6 | Details of consideration paid/ received in agreement | : | 50% profit share, no other consideration payable. The sales of the said Ingenus product as per the IQVIA for the past 12 months ended March 2024 was $51.8 million. |
7 | Significant terms and conditions of agreement | : | Dr. Reddy’s USA to in-license and commercialize for the U.S. market. Dr. Reddy’s USA shall pay to Ingenus 50% of the calculated profit share. The NDA covering the product will be assigned to Dr. Reddy’s USA. The parties will enter into a commercial supply agreement pursuant to which Ingenus will supply the product to Dr. Reddy’s USA. |
![]() | Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
8 | Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length | : | The transaction with Ingenus does not fall within a related party transaction. Ingenus is not a related party to the Company or Dr. Reddy’s USA or any of its promoter/ promoter group/ group companies.
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9 | Size of the entity | : | Not applicable |
10 | Rationale and benefit expected | : | Commercialization rights to an approved, marketed product |
This is for your information and records.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
K Randhir Singh
Company Secretary, Compliance Officer & Head-CSR