Hyderabad, Jan 24 : Dr Reddy's Laboratories Ltd (DRL) has terminated its strategic relationship with the US based generic marketing major Schein Pharmaceutical Inc., the company has informed the stock exchanges on Wednesday.Following the takeover of Schein by Watson Pharmaceutical Inc, DRL has decided to terminate the marketing agreement with the company, DRL said.As part of the termination agreement, Schein has agreed to transfer two of its US abbreviated new drug applications and to source certain active pharmaceutical ingredients exclusively from DRL, for a period of 10 years, stated the company.
While DRL will continue the patent challenge for Fluoxetme, Ciprofloxacin and Omeprazole independently, which was previously been conducted with Schein, the company said.
This would result in direct entry into the US, Australian, South African and UK markets and provide scope to explore new partners for its products, the company stated.DRL had entered into an agreement with Schein in 1998, as part of its strategy to set up a distribution network in the US market, besides other companies. The company has started investments in the generic market since 1995.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
