HYDERABAD, Nov 18: Dr Reddy’s Laboratories today announced that it has completed the purchase of worldwide exclusive Intellectual Property Rights for Fondaparinux sodium, its generic anti-coagulant drug from its Australian partner, Alchemia Limited. Earlier, the company had signed a term-sheet for this transaction in September, this year. Alchemia’s shareholders approved the sale of Fondaparinux at the company’s annual general meeting on November 10, post which Dr. Reddy’s and Alchemia have executed a purchase and sale agreement together with various patent assignment deeds.
Alchemia has received USD 17.5 million from Dr Reddys as consideration for sale. The agreement is effective July, this year, a company release said here. . (UNI)
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