The company had signed a term sheet for this transaction with its Australian partner, Alchemia in September 2015
Dr Reddy’s Laboratories has completed the purchase of worldwide exclusive intellectual property (IP) rights for Fondaparinux sodium, its generic anti-coagulant drug from its Australian partner, Alchemia. Earlier, the company had signed a term sheet for this transaction in September, 2015.
Alchemia’s shareholders approved the sale of Fondaparinux at the company’s annual general meeting held recently, post which Dr Reddy’s and Alchemia have executed a purchase and sale agreement, together with various patent assignment deeds. Alchemia has received $17.5 million from Dr Reddy’s as consideration for the sale. The agreement is effective July 2015.