Posted on 16/06/2009 in Pharmaceutical Company Product News GlaxoSmithKline (GSK) has taken a significant step to strengthen its business in emerging markets, it has asserted.
As a result of a new agreement, the company will gain exclusive rights to Dr Reddy's portfolio and future pipeline of over 100 branded pharmaceuticals, including treatments for diabetes and pain management.
GSK will supply and market the items across various countries in Asia Pacific, Latin America, Africa and the Middle East, while Dr Reddy's will manufacture them.
The former will report revenues and the latter will share proceeds, as stated in the terms of the deal.
President of emerging markets at GSK Abbas Hussain noted this important step will help the firm expand and diversify.
"This new alliance will combine Dr. Reddy's portfolio of quality branded pharmaceuticals together with GSK's extensive sales and marketing capabilities," he stated.
Mr Hussain concluded the partnership will result in a greater number of medicines being delivered to more people around the world.
Last week, GSK announced it had joined forces with Shenzhen Neptunus Interlong Bio-Technique. The companies will collaborate to develop and manufacture influenza vaccines for the Chinese market.Other news stories from 16/06/2009
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