Dr. Reddy's Laboratories is planning to introduce its
biosimilar drugs in developed markets, according to chairman K Anji Reddy.
"The company's biosimilars business grew by 45 percent over last year and
recorded sales of $26 million" in fiscal 2012, the executive stated in Dr.
Reddy's annual report, adding that the treatments are available "at prices
that are significantly more affordable than the corresponding innovator
drugs."
Dr. Reddy's current portfolio of biosimilars is comprised of
filgrastim, peg-filgrastim, rituximab and darbepoetin alfa, which are sold in
13 emerging markets. According to Reddy, the company is awaiting approvals for
biosimilar filings in 20 other countries and is also making progress in
regulated markets
- Last month, the company entered into a partnership with Merck KGaA's Serono division to co-develop a portfolio of biosimilar compounds in oncology, notably monoclonal antibodies. The deal includes development, manufacturing and commercialisation of the drugs globally, barring certain country exceptions. Reddy noted that "with 177 biosimilar and copy biologics, oncology is currently the largest target therapeutic area for development and marketing of biosimilars."
- Reddy also indicated in the annual report that Dr. Reddy's will enter the Japanese generic market through its joint venture with Fujifilm, "with a plan to launch the first products in the next three to four years." The drugmaker expects that the limited competition experienced by generic launches in Japan could help it achieve sustainable growth.
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