Dr Reddys Laboratories yesterday announced the acquisition
of Trigenesis Therapeutics Inc, the US-based skincare
company. The total investment outlay is dollars 11 million.
a press release, Dr Reddy''s said it would make additional
contractual payments during the course of development
of products and technology platforms, as well as royalties
on sales to Skye Pharma and Silva Foam of UK as per the
existing agreements with Trigenesis.
Pharma, based in London, uses its drug delivery technology
develop easy-to-use and more effective formulations of
drugs. One of its proprietary technologies is claimed
to take care of major challenges faced in the formulation
and delivery of drugs in the areas of oral, injectable,
inhaled and topical delivery.
the US market for dermatology products estimated at $6
billion in 2002 and global market in 2003 being worth
$8 billion, Dr Reddy''s is upbeat on the prospects in these
chief executive officer of Dr Reddy''s, G.V. Prasad, said:
"We are excited about this acquisition
and see it as an important element of our overall corporate
strategy in facilitating our transition into a speciality
pharmaceutical company focussed on the US market.