By IANS
Mumbai : Dr. Reddy’s Laboratories Ltd, one of India’s leading pharmaceutical companies, has signed an agreement with Denmark-based 7TM Pharma for developing medicines in the area of metabolic disorders.
In a filing with the Bombay Stock Exchange (BSE), Dr. Reddy’s said both partners would cooperate in developing drugs and clinically testing them. Once they got a green signal from the authorities, they may licence it out to a larger pharmaceutical company for further development, said the communiqué.
“7TM has an established track record as one of the leading drug discovery companies, specially in the development of G-Protein Coupled Receptor (GPCR) drugs which are used in metabolic disorders,” said Rajinder Kumar, president, research and development, Dr. Reddy’s.
However, the company refused to disclose the financial terms of the agreement.