Dr. Reddy's Laboratories enters into a Voluntary Licensing Agreement with Lilly to Expand Access to COVID-19 Treatment in India

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as "Dr. Reddy's") today announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company ("Lilly") for the manufacture and commercialization of the drug, baricitinib, in India.

The drug baricitinib has received restricted emergency use approval from the Central Drugs Standard Control Organization (CDSCO), Ministry of Health, India, for use in combination with remdesivir for the treatment of suspected or laboratory confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).

This partnership comes at a critical juncture in the fight against the pandemic in India, and adds to the company's existing range of COVID-19 therapeutics covering the full spectrum from mild to moderate and severe conditions of the disease, and a vaccine.

Deepak Sapra, Chief Executive Officer, API and Services, Dr. Reddy's Laboratories, said: "From the start, we have been determined to explore every possible avenue against COVID-19. Our collaboration with Lilly will help us make yet another treatment option available to patients in India."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.5293.6 as compared to the previous close of Rs. 5329.1. The total number of shares traded during the day was 61728 in over 6997 trades.

The stock hit an intraday high of Rs. 5349.85 and intraday low of 5272. The net turnover during the day was Rs. 327536935.

Source : Equity Bulls

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