Dr Reddy’s Laboratories has signed a commercialisation deal with Australia’s Hatchtech for prescription head lice product Xeglyze Lotion.
Dr Reddy’s, as a part of the agreement, will be paying Hatchtech an upfront USD 10 million followed by up to USD 50 million on pre-commercialisation milestones and an undisclosed amount based on post-commercialisation milestone linked to achievement of annual net sales targets.
Dr Reddy’s said in a BSE filing, “The exclusive rights for this product are applicable to the territories of the United States, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela.”
“Additionally, Hatchtech announced it will be filing its New Drug Application for Xeglyze with the US Food and Drug Administration (FDA) today. If approved, the product will be marketed in the United States by Promius Pharma, a wholly-owned specialty company of Dr Reddy’s Laboratories.”