Dr Reddy's gains rights to Eisai anticancer drug candidate
India’s Dr Reddy's Laboratories (BSE: 500124) has entered into a licensing agreement with Japan’s Eisai (TYO: 4523) to gain exclusive worldwide development and commercialization rights (excluding Japan and Asia) for Eisai’s investigational anticancer agent E7777.
Eisai will be responsible for the development and marketing of E7777 in Japan and Asia, while Dr Reddy’s holds the option for rights to develop and market the agent in India.
In exchange of these rights, Eisai will receive undisclosed milestone payments in line with obtaining marketing approval and the achievement of agreed upon sales targets. Through this agreement, the two companies aim to accelerate development and maximize the value of E7777. Further financial terms of the deal were not disclosed.
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