Dr Reddy’s make a deal of $198 million with Australia’s Hatchtech Pty Ltd

15-Sep-2015 # Australia and NZ Source: Financial Express

Dr Reddy’s Laboratories, yesterday, signed a commercialization deal with Australia’s Hatctech for the marketing rights to Hatchtech’s developing lice treatment.

Hatchtech will be filing a new drug application with the Foods and Drugs Administration for the treatment of Xeglyze. If the drug is approved, it will be marketed through Dr Reddy’s Promius Pharma.

As per the agreement, Hatchtech will pay Dr Reddy’s $10 million upfront and potentially as much as $50 million based on sales milestones achieved.

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