BELLEVUE, Wash.--(BUSINESS WIRE)--SCOLR Pharma, Inc. (AMEX: DDD) today announced that it has entered into a collaboration and license agreement with Dr. Reddy’s Laboratories (NYSE:RDY), an emerging global pharmaceutical company. The parties will pursue the development and commercialization of an undisclosed oral prescription drug with significant potential for the cardiopulmonary market utilizing SCOLR Pharma’s CDT® technology.
Under the terms of the agreement, Dr. Reddy’s will be responsible for the development, manufacturing and marketing of the drug product. SCOLR Pharma will be responsible for the formulation and assisting with product scale-up activities. The agreement provides double digit participation in net profits for SCOLR Pharma after recovery of development and commercialization expenses associated with the potential product. Other financial terms of the agreement have not been disclosed.
