Dr. Reddy’s Laboratories on Saturday held that it had signed a pact with New Jersey-based Slayback Pharma to acquire rights to a medication that relieves redness of the eyes. Under the licensing pact, the company has acquired rights in Brimonidine Tartrate Ophthalmic Solution 0.025 per cent.

Brimonidine is an alpha-2 adrenergic receptor agonist which relieves eyes’ redness and results in no dilated pupils (mydriasis). Topical administration of brimonidine tartrate reduces intraocular pressure in humans with negligible effect on cardiovascular or pulmonary parameters.

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The company’s product, in composition, is equivalent to Lumify. This over-the-counter (OTC) eye drop is primarily used to reduce the eyes’ redness due to minor irritations. The official agreement also provides Dr. Reddy’s exclusive rights to the product outside the USA.

According to industry estimates, the total addressable market value for this product in the US is around USD 130 million for one year ending June 2022. As India is home to one of the largest cases of ophthalmic disorders, Dr. Reddy’s Laboratories sees this as an opportunity to address a large market.