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Dr.Reddy's gets anti-coagulant drug IPR rights for $17.5 m
Dr Reddy's Laboratories has completed purchase of worldwide exclusive intellectual property rights for Fondaparinux Sodium, its generic anti-coagulant drug from Australian partner, Alchemia Ltd.
Announcing this, a statement from.Dr.Reddy's said that the company had in September signed a term sheet for the transaction. The completion follows Alchemia’s shareholders approving sale of Fondaparinux at the company's AGM on November 10 after which the two companies executed a purchase and sale agreement, together with various patent assignment deeds. Alchemia has received $17.5 million from Dr.Reddy’s as consideration for the sale and the agreement is effective July 2015.
Fondaparinux is a generic version of the anticoagulant drug Arixtra, which is used in the treatment of deep vein thrombosis (DVT) and pulmonary embolism (PE). It is also indicated for the prevention of DVT after major surgery, such as knee and hip replacement.