More emerging markets news for GlaxoSmithKline: The company has forged a partnership with Dr. Reddy's Laboratories to sell more than 100 branded drugs, some of which are still in development. Dr. Reddy's would manufacture the meds; Glaxo would license and supply them to various developing countries in Africa, the Middle East, Asia Pacific and Latin America. In some markets, the drugs will be co-marketed by both companies. The deal does not include Dr. Reddy's home market of India.
Growth in emerging markets--both in population and in prosperity--is boosting demand for branded meds, Glaxo Emerging Markets President Abbas Hussain said in a statement. The alliance with Dr. Reddy's will combine the Indian firm's portfolio of branded meds with Glaxo's sales-and-marketing prowess, he said. Dr. Reddy's CEO GV Prasad added, "We are extremely pleased to combine forces with GSK, a global leader, to fully realize the potential of our strengths in technology, product development and manufacturing across a range of high growth emerging markets."
As you know, emerging-markets deals have been all the rage in pharma of late, with Glaxo among the most active; the company has acquired and licensed products, struck partnerships, and formed alliances, extending its reach in sub-Saharan Africa, China, Singapore, Argentina, Chile, Egypt, Pakistan, and a host of other emerging markets.
- read the GSK statement
- check out the story in the Wall Street Journal