Dr Reddy’s Laboratories has signed a deal with Australian pharmaceutical company Hatchtech, to develop Xeglyze lotion, a head lice product.
As part of the agreement, Dr Reddy’s will pay Hatchtech an upfront an amount of $10 million up to $50 million, based on pre commercialisation milestones and an undisclosed amount based on post commercialisation milestones, linked to achievement of annual net sales targets.
The exclusive rights for this product are applicable for the territories of US, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela.