Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) and TR-Pharm announced today a strategic collaboration agreement involving 3 biosimilar products. A total of three products will be registered and subsequently commercialized as a part of this agreement by TR-Pharm in Turkey. TR-Pharm will also manufacture the drug substance and drug product upon completition of its facility investment.
Mehmet Göker, General Manager of TR-Pharm, said “Biosimilars are a key component of our investment strategy in Turkey to establish biotechnological API production for national use and regional exports. This agreement will not only enable more affordable medication but also support our research and development initiatives by building expertise within the country. We are pleased to have already started laying out the groundwork for manufacturing with Dr. Reddy’s for high quality biosimilar products.”
M V Ramana, Executive Vice President & Head Branded Markets (India and Emerging countries), said “Turkey is a key emerging market and we are pleased to partner with TR-Pharm to ensure that patients in the region get access to our portfolio of high quality biosimilar products. Dr. Reddy’s Laboratories is and remains committed to providing access to affordable and innovative drugs to populations around the world, and this partnership will make this happen in Turkey.”
TR-Pharm has begun laying out the groundwork for the technology transfer. This collaboration will be an important component of TR-Pharm’s ongoing biological product development and manufacturing business in the region. The partnership will also enable Dr. Reddy’s to widen the global footprint of its biosimilar business.