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Dr. Reddy's Laboratories Ltd. (RDY) To Dump $320 Million In Biologics, Proprietary Medicines



6/19/2014 6:50:15 AM

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Dr. Reddy’s (DRRD) Laboratories Ltd., India’s second-biggest drugmaker by revenue, will invest about $320 million over the next four years to develop its portfolio of biologic and proprietary medicines, Chief Operating Officer Abhijit Mukherjee said.

Dr. Reddy’s, which gets 80 percent of sales from generic drugs, plans to seek permission to sell two proprietary medicines in the U.S. within the next year, Mukherjee said in a June 17 interview. The Hyderabad-based company also obtained approval from the U.S. Food and Drug Administration to start clinical trials for two biosimilars, or copies of biotechnology therapies, he said.

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