Dr Reddy's buys US rights to XenoPort's psoriasis drug candidate XP23829

29 March 2016

Subsequent to its commitment last fall to find a development partner (The Pharma Letter October 5, 2015), US biopharma company XenoPort (Nasdaq: XNPT) has entered into a license agreement under which Indian drug major Dr Reddy’s Laboratories (BSE: 500124) will be granted exclusive US rights for the development and commercialization of XenoPort’s clinical-stage oral new chemical entity, XP23829.

XenoPort’s shares gained more than 4.8% to $4.56 by midday Monday on the news, while Dr Reddy’s was barely changed.

Dr Reddy’s plans to develop XP23829 as a potential treatment for moderate-to-severe chronic plaque psoriasis and may potentially develop XP23829 for relapsing forms of multiple sclerosis (MS).

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