Pharmaceutical company Dr Reddy's Laboratories (DRL) has entered into a licensing, technology transfer, manufacturing and marketing agreement with R-Pharm of Russia.
The collaboration will work on a profit sharing model and entail licensing of manufacturing know-how of products by DRL, local manufacturing of products in Russia, co-development of high technology products and knowledge sharing between both parties at regular intervals.
The agreement was signed at the fourth India-Russia Forum on Trade and Investment in New Delhi on Monday.
DRL Managing Director and Chief Operating Officer Satish Reddy said the collaboration would deepen its engagement with Russia, a key market for the company.
"The agreement allows us to bring innovative medicines to the Russian people with active collaboration of a local pharmaceutical company - R-Pharm. It will also allow DRL to import and market R-Pharm products in India according to agreed terms," he said.
R-Pharm was founded in 2001 in Moscow and is involved in research and development, manufacturing, promotion and distribution of pharmaceuticals used in hospital and specialty care.
Its chairman, Alexey Repik, said the agreement with DRL would help in addressing the unmet medical needs and make medicines more affordable in Russia.
It would signal a change of approach from just imports of finished products to deep integration in technology, manufacturing, marketing and knowledge sharing, he said.
