GlaxoSmithKline (GSK) and pharmaceutical company Dr Reddy's have forged a strategic alliance to develop and market pharmaceutical products across emerging markets, excluding India.
Under the agreement, GSK will gain exclusive access to Dr Reddy's portfolio and future pipeline of more than 100 branded pharmaceutical products.
The current and future pipeline products will fall under the cardiovascular, diabetes, oncology, gastroenterology and pain management categories.
GSK president of emerging markets Abbas Hussain said that growth in population and economic prosperity is leading to increased demand for branded pharmaceuticals in emerging markets.
"This new alliance will combine Dr Reddy's portfolio of quality branded pharmaceuticals together with GSK's extensive sales and marketing capabilities," Hussain said. "Together we will be able to deliver more medicines of value to more patients in these countries."
The products will be manufactured by Dr Reddy's and licensed and supplied by GSK in various countries in Africa, the Middle East, Asia Pacific and Latin America. In certain markets, products will be co-marketed by both companies.
Under the terms of the agreement, revenues will be reported by GSK and shared with Dr Reddy's.