Dr Reddy's acquires Jet Generici Srl. Acquisition to establish Generics business in Italy

Dr Reddys Laboratories Ltd on April 03, 2008 has announced that it has acquired Jet Generici Sri, a Company engaged in the sale of generic finished dosages in Italy. The deal has been completed via Dr Reddy's Italian subsidiary, Reddy Pharma Italia SpA, which has been engaged in building a pipeline of registrations since its incorporation. The acquisition provides access to an essential product portfolio, a pipeline of registration applications, and a sales and marketing organisation. Financial terms and conditions of the transaction are not being disclosed.

Commenting on the acquisition, Mr. VS Vasudevan, President & Head - Europe Operations said, "Dr Reddy's has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe. The acquisition has been well timed, since Dr Reddy's will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. We believe that this strategic investment will generate substantial opportunities for long-term value creation in one of the fastest growing generic markets of the world."

Dr Reddy's Announces Collaboration with SkyePharma

Dr Reddys Laboratories Ltd on February 08, 2008 has announced that it has entered into an agreement with SkyePharma PLC (LSE: SKP) to undertake a feasibility study of a product utilizing two of SkyePharma's proprietary drug delivery systems. The costs of this study will be paid by Dr Reddy's. SkyePharma will also receive an upfront payment. If the feasibility study is successful, full development activities will begin later this year.

Dr Reddys Laboratories Q3FY08 Results

Dr Reddys Laboratories Ltd has announced the following Unaudited results for the quarter ended December 31, 2007:

The Company has posted a net profit of Rs 422.90 million for the quarter ended December 31, 2007 as compared to Rs 5034.90 million for the quarter ended December 31, 2006. Total Income has decreased from Rs 12121.10 million for the quarter ended December 31, 2006 to Rs 8206.80 million for the quarter ended December 31, 2007.

The Consolidated results are as follows:

The Group has posted a net profit attributable to the shareholders of the parent of Rs 625.50 million for the quarter ended December 31, 2007 as compared to Rs 1056.30 million for the quarter ended December 31, 2006. Total Income has decreased from Rs 15214.80 million for the quarter ended December 31, 2006 to Rs 12659.80 million for the quarter ended December 31, 2007.

The Consolidated results as per US GAAP are as follows:

The Group has posted a net loss of Rs 846.620 million for the quarter ended December 31, 2007 as compared to net profit of Rs 1879.407 million for the quarter ended December 31, 2006. Revenues has decreased from Rs 15434.265 million for the quarter ended December 31, 2006 to Rs 12319.651 million for the quarter ended December 31, 2007.

Dr Reddy's announces settlement of Exelon® (rivastigmine tartrate ) ANDA litigation with Novartis

Dr Reddys Laboratories Ltd on January 21, 2008 has announced that the Company has entered into a settlement agreement with Novartis Pharma AG which involves a stipulation of dismissal of the lawsuits in the United States relating to the Abbreviated New Drug Applications filed by Dr. Reddy's for a generic version of rivastigmine tartrate capsules sold under the trade-name Exelon.

Under the terms of the agreement, Dr. Reddy's will not launch its generic Rivastigmine Tartrate capsules until sometime before the expiry of the Orange Book patents claiming Rivastigmine. The exact date of launch and other terms of this agreement are confidential. In October 2007, the Company received the final approval from U.S. FDA on its ANDA for Rivastigmine capsules.

Rivastigmine tartrate capsules is the generic version of the Novartis product Exelon indicated for the treatment of mild-to-moderate Alzheimer's disease dementia. As per the IMS June 2007 Moving Annual Total, the annual sales of this product in the US were $199 million.

Dr Reddys - Sygnis AG and Dr Reddy's sign Exclusive Supply Collaboration for AX200 in Stroke

Dr Reddys Laboratories Ltd has informed that SYGNIS Pharma AG and the Company on November 26, 2007, announced the signing of an exclusive 10 year agreement for the supply of the active ingredient AX200, a biological molecule in development by SYGNIS for the treatment of Stroke and other neurodegenerative disorders. The Agreement secures the supply of AX200 far beyond the clinical development and provides a solid basis for the envisaged marketing of the compound.

SYGNIS successfully completed a Phase IIa clinical trial of AX200 in September, that demonstrated safety and efficacy in patients with acute Stroke. In the second half of 2008, SYGNIS plans to start a Phase IIb efficacy trial in acute Stroke with AX200 supplied by the Company. Stroke affects over 5 million patients worldwide every year and is the third leading cause of death, presenting a major soclo-economic burden.

Dr. Cartikeya Reddy, Head of Biologics at the Company, said, "Biopharmaceutical Services is a fast growing business segment globally with a limited number of service providers. Our strategic decision to exclusively produce a biological molecule for a partner is a first in the history of Dr. Reddy's and fits very well within our Custom Pharmaceutical Services' business model. We are very optimistic that AX200 will continue to show real potential in the treatment of Acute Stroke with the potential to be used in the treatment of other degenerative neurological diseases."

Dr Reddys & Argenta Discovery progress pre-clinical anti-inflammatory candidate to treat chronic respiratory disease

Dr Reddys Laboratories Ltd has informed that Argenta Discovery Ltd, the respiratory drug discovery and development Company, and the Company, on November 26, 2007 announce a major milestone in their development programme targeting a novel disease-modifying approach to treat the underlying cause of certain chronic respiratory diseases including chronic obstructive pulmonary disease (COPD) and severe asthma.

Argenta's Chief Executive Officer, Dr. Christopher Ashton said: "Just 18 months after signing the deal with Dr Reddy's, the team has already selected the first candidate drug to proceed into pre-clinical development. We are very excited by the exceptional progress this programme has made within such a short timeframe. With GMP material already manufactured we are on target to enter Phase I in mid-2008 and Phase II in 2009. We believe we are first-in-class for this inhaled anti-inflammatory approach to treat chronic respiratory disease."

Under the terms of the licensing agreement announced in February 2006, Argenta and the Company are collaborating to identify clinical candidates against an undisclosed but proven anti-inflammatory drug target and to develop these candidates to Phase II proof-of-concept.

Ashton added: "The programme is also likely to deliver high quality back-up candidates in the near future, which is testament to the overall strength and depth of the approach. This rapid progress towards the clinic is further validation that Argenta's innovative 'fast forward' strategy for the rapid development of new respiratory medicines against well validated, precedented drug targets has achieved significant momentum. We are building a strong pipeline and have the funds to take all our programmes as far as clinical proof-of-concept."

Dr Reddys Laboratories Q2 results

Dr Reddys Laboratories Ltd has announced the following Un-Audited results for the quarter ended September 30, 2007:

The Company has posted a net profit of Rs 1250.00 million for the quarter ended September 30, 2007 as compared to Rs 2726.60 million for the quarter ended September 30, 2006. Total Income has decreased from Rs 9489.60 million for the quarter ended September 30, 2006 to Rs 9240.40 million for the quarter ended September 30, 2007.

The Consolidated results are as follows:

The Group has posted a net profit attributable to the shareholders of the parent of Rs 1106.00 million for the quarter ended September 30, 2007 as compared to Rs 2925.00 million for the quarter ended September 30, 2006. Total Income has decreased from Rs 19826.00 million for the quarter ended September 30, 2006 to Rs 13265.50 million for the quarter ended September 30, 2007.

The Consolidated results as per US GAAP are as follows:

The Group has posted a net income of Rs 2671.641 million for the quarter ended September 30, 2007 as compared to Rs 2797.683 million for the quarter ended September 30, 2006. Revenues has decreased from Rs 20038.545 million for the quarter ended September 30, 2006 to Rs 12669.753 million for the quarter ended September 30, 2007.

Dr Reddys Laboratories Ltd

Dr Reddys Laboratories Ltd has announced that the Company has expanded its presence in the ASEAN region with the opening of its 41st overseas office in Manila, Philippines in partnership with Britton Marketing Corporation, a sister Company of Britton Distributions, Inc. This distributor-based model will serve the US $ 1.8 billion Philippines pharmaceutical market, which is growing at over 10% annually.

The Company is initially targeting therapeutic areas like cardiology, diabetology, gastroenterology and pain management. The first phase of launch will see major brands like Omez (Omiprazole), Stamlo M (Amlodipine maleate), Resilo (Losartan), Reclide (Gliclazide), Cardiopril (Ramiprll), Rafree (Meloxicam), Ciprolet (Ciprofloxacin), and Finast (Finasteride) being introduced in the Philippines market.

Commenting on the opening of the new office, Rajesh Kumar, Head- AMEEERA region said, "Accessibility of quality and affordable medicines is among the pressing issues in Philippines today. It is one of the key markets in the ASEAN region for us and being a leader in the generics space, Dr Reddy’s has a lot to offer to the Filipino medical community and the people of Philippines. BMC has a strong marketing presence in the healthcare products market and together with Dr. Reddy's, is ideally placed to serve this market."

JP Morgan - Dr Reddy's Labs

JP Morgan recommends a OVERWEIGHT on Dr Reddy's Labs

Company can deliver higher growth

Valued at 20x FY09E

Dr Reddy's Labs

Dr. Reddy'S Laboratories Ltd. has informed the Exchange regarding a press release dated September 05, 2007, titled "Dr. Reddy's enters the Dermatology topical anti-fungal market with the launch of 'Ebernet TM'-(Eberconazole)".