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Dr. Reddy's buys out Trigenesis
By Our Special Correspondent
HYDERABAD,
MAY 6.
Dr. Reddy's Laboratories announced that it has acquired Trigenesis Therapeutics, a U.S.-based privately owned dermatology company. The acquisition provides Dr. Reddy's access to certain products and proprietary drug delivery technology platforms for developing a pipeline of differentiated drugs in the dermatology segment.
According to a release, the total investment outlay is $11 million. Dr. Reddy's will make additional contractual payments during the course of the development of products and technology platforms and royalties on sales to Skye Pharma plc and SilvaFoam LLC pursuant to existing Trigenesis agreements.
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