Hyderabad, Aug. 27 (PTI): Undeterred by recent setbacks, Dr Reddy’s Laboratories (DRL) has chalked out an ambitious roadmap to become a “discovery-led global pharma company” over the next decade using branded speciality business and the US generics as a platform.
Seeking to overcome recent defeat in a patent battle in a US court over wide spectrum anti-biotic drug Cipro, Anji Reddy, chairman of the city-based NYSE-listed company, assured the shareholders that the company would increase the R&D activity, build a larger portfolio and work towards becoming an integrated mid-sized global pharma company in the next five years.
Addressing the company’s annual general meeting here yesterday, Reddy sounded optimistic about the future and said the company will set up the branded speciality business and also launch its first generic product through own marketing set-up in the US.
DRL had received a major setback early this month when the US district court in New Jersey ruled against the company in a patent infringement case and upheld the patent of german pharma giant Bayer AG. As a result, the company will not be able to launch the generic version of the drug till December next year when Bayer’s patent expires.
In yet another setback last month, Danish drug maker Novo Nordisk announced suspension of further trials on Ragaglitazar, a dual-acting insulin sensitiser molecule developed by DRL and out-licensed to Novo.
Anji Reddy said the company’s R&D arm based in Atlanta, USA, has identified several pre-clinical candidates for further evaluation in areas of restenosis, inflamation and transplant vasculopathy.