Dr Reddy's enters into agreement with UK firm

MUMBAI: Pharmaceutical major Dr Reddy's Laboratories today said it has entered into an agreement with British company SkyePharma Plc to undertake a feasibility study of a product, which will use the drug delivery systems of the UK firm.

The feasibility study would be for a product, which would utilise two proprietary drug delivery systems of SkypePharma. In a filing to the Bombay Stock Exchange, Dr Reddy's said the expenses for conducting the study would be borne by the firm.

Further, SkyePharma would receive an upfront payment and if the study is successful, the full development activities of the product would begin later his year, the filing added.

SkyePharma is a provider of drug delivery technologies. In late afternoon trade, shares of the company were trading at Rs 521.40, down 0.24 per cent on the BSE.