Fondaparinux is a generic version of GlaxoSmithKline’s Arixtra. Fondaparinux is an anticoagulant (blood thinner) used for the treatment and prevention of deep vein thrombosis (DVTs).
As per the terms of the agreement, Alchemia is expected to receive a royalty on sales at an agreed proportion from Dr Reddy’s, while Dr Reddy’s is expected to have the option to market the drug itself or enter into agreements with third parties.
Pete Smith, CEO of Alchemia, said: “Dr Reddy’s has the experience of directly marketing generic drugs in a large number of countries and supplying API to numerous other pharmaceutical and generic companies.
“Whilst Alchemia has been approached by a number of companies interested in marketing Fondaparinux, it would be inefficient for us to identify and enter into multiple agreements in the markets where we have no experience.”