Dr Reddy's Laboratories and Slayback Pharma sign a licencing agreement
The business and the pharmaceutical company in New Jersey have signed a licencing agreement for the company to obtain the rights to Brimonidine Tartrate Ophthalmic Solution 0.025 per cent.
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On July 30, Dr Reddy's Laboratories announced that it has signed an agreement with US-based Slayback Pharma to purchase the rights to a drug that treats eye redness.
The Hyderabad-based company announced in a statement that it has signed a licencing agreement with the New Jersey-based pharmaceutical company to obtain the rights to Brimonidine Tartrate Ophthalmic Solution 0.025 percent.
The company's product is comparable to Lumify, an over-the-counter (OTC) eyedrop that can be used to treat minor eye irritations that cause redness of the eye. According to Dr Reddy's Laboratories, the agreement also grants Dr Reddy's exclusive rights to the product outside of the US.
For the 52 weeks ending June 12, 2022, the total addressable market for this product in the US is expected to be worth roughly USD 130 million.
