Dr Reddy’s US arm sells rights for 3 brands to Encore Dermatology

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Published: April 3, 2019 2:19:35 AM

The company said that other terms of the agreement are confidential.

Pennsylvania-based Encore Dermatology is a privately held fully-integrated dermatology company with a mission committed to delivering innovative prescription therapies and medical devices to dermatologists.

Dr Reddy’s Laboratories said that its wholly-owned subsidiary Promius Pharma entered into an agreement with Encore Dermatology to sell rights to distribute and market three of its specialty dermatology brands in the US. However, the company did not disclose the financial details of the transaction.

This includes the sale of its rights for Sernivo (betamethasone dipropionate) spray 0.05% and assignment of its rights to market and distribute, Promiseb topical cream and Trianex 0.05% (Triamcinolone Acetonide Ointment, USP) in the US to Encore Dermatology, according to a company statement.

Under the terms of the agreement, Promius Pharma is eligible to receive an upfront payment and future milestone payments contingent upon achievement of certain commercial objectives.
“We are confident in Encore’s ability to realize the full potential of the enlisted products. We look forward to working with Encore to ensure a smooth transition of these brands and to ensure they are able to quickly deliver these products to providers and patients.” said Anil Namboodiripad, senior vice-president (proprietary products) and president, Promius Pharma.

Pennsylvania-based Encore Dermatology is a privately held fully-integrated dermatology company with a mission committed to delivering innovative prescription therapies and medical devices to dermatologists.
“This is in line with our renewed strategy to enable us achieve self-sustainability and profitable growth for each of our businesses,” said GV Prasad, co-chairman and CEO, Dr Reddy’s.

According to market analysis, the US has the largest market for dermatology and is also forecast to be the leading market through 2028, having a market size of $12.3 billion in 2018 growing to $22.6 billion in 2028.
Meanwhile, Dr Reddy’s has entered into a confidential settlement agreement with the US-based biotechnology firm Celgene for its abbreviated new drug submissions (ANDS) related to a generic version of Revlimid brand
capsules pending before Health Canada. Revlimid (Lenalidomide) is indicated for treatment for multiple myeloma (cancer).

“Pursuant to this confidential settlement, the parties agreed to discontinue all legal proceedings involving certain of Celgene’s Canadian patents related to Lenalidomide and the company’s ANDS for a generic version of Celgene’s Lenalidomide capsules pending before Health Canada,” Dr Reddy’s said in a BSE filing.

The company said that other terms of the agreement are confidential.

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