Motilal Oswal: Dr. Reddy’s New Drug Application Xeglyze Approval To Improve Out-Licensing Prospects
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Motilal Oswal Report
Dr. Reddy’s Laboratories Ltd. has received the United States Food and Drug Administration’s approval for its New Drug Application Xeglyze (abametapir) to treat head lice in patients aged six months and above.
Xeglyze is part of a deal signed with Australia-based Hatchtech Pty Ltd. in September 2015. Dr. Reddy’s has secured exclusive rights for Xeglyze in key markets, including the U.S.
This would also trigger milestone-linked payments by Dr. Reddy’s (up to $50 million) to Hatchtech Pty. This would be based on different stages of pre and post commercialisation.
Considering the early monetization strategy of its proprietary drug assets, we expect Dr. Reddy’s to out-license Xeglyze over the medium term.
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