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Pharmaceuticals
reddy's Forms Drug Pact
October 3, 2005
| A version of this story appeared in
Volume 83, Issue 40
Dr. Reddy's Laboratories is launching Perlecan Pharma, a drug development subsidiary that will commercialize drugs from the Indian firm that have completed Phase I clinical trials. Citigroup Venture Capital and private equity firm ICICI Venture are each contributing $22.5 million, and Dr. Reddy's is putting in $7.5 million. Perlecan will commercialize the drugs by licensing them to other companies or by partnering with other firms to complete clinical trials. Perlecan will initially acquire the rights to four Dr. Reddy's drugs.
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