Dr. Reddy’s Laboratories enters into definitive agreement with Citius Pharmaceuticals, Inc. to sell its rights to the anticancer agent E7777 (denileukine diftitox)

HYDERABAD, India & PRINCETON, NJ – (COMMERCIAL THREAD) – Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, and its subsidiaries collectively referred to as “Dr. Reddy’s”), have announced that they have entered into a definitive agreement with Citius Pharmaceuticals, Inc. (“Citius”) under from which it sold all of its rights to E7777 (a modified diphtheria toxin IL-2 fusion protein) and certain related assets.

Under the terms of the deal, Dr Reddy’s will receive $ 40 million upfront upon closing of the transaction, followed by an approval milestone payment of up to $ 40 million related to CTCL (cutaneous lymphoma). T cells) indication approval and up to $ 70 million for additional indication approvals. In addition, Dr. Reddy’s will receive certain sales-based milestones and installment top-up payments.

In March 2016, Dr. Reddy’s acquired the exclusive worldwide rights (excluding Japan and Asia) to the investigational cancer agent E7777 from Eisai Co. Ltd.

Erez Israel, CEO of Dr. Reddy’s, said: “Responding to the unmet needs of oncology patients remains a priority area for us. E7777 has significant potential as an important component of systemic therapy for CTCL and other cancers. After the acquisition of Eisai, significant progress was made on the development front of CTCL. We are confident in Citius’ ability to realize the full potential of E7777 in the treatment of CTCL as well as in its ability to develop this promising drug for other indications in oncology and immuno-oncology.

About Dr Reddy: Dr. Reddy’s Laboratories Ltd. (ESB: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services comprising APIs, Custom Pharmacy Services, Generics, Biosimilars and Differentiated Formulations. Our main therapeutic areas are: gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr Reddy’s operates in markets around the world. Our main markets are USA, India, Russia and CIS countries and Europe. For more information, log on to: www.drreddys.com

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the current beliefs and assumptions of management and involve known or unknown risks and uncertainties that could cause so that actual results, performance or events differ materially from those expressed. or implied in such statements. In addition to forward-looking statements due to context, the words “may”, “will”, “should”, “expects”, “expects”, “intends”, “expects”, “estimates” , “Believes”, “predicted”, “potential” or “continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those shown in such statements due to, without limitation, (i) general economic conditions such as financial market performance, credit defaults, exchange rates, interest rates, levels of persistence and frequency / severity of insured claims (ii) levels and trends mortality and morbidity, (iii) changes in levels of competition and general competitive factors, (iv) changes in laws and regulations and central bank and / or government policies, (v) impact of acquisitions or reorganization , including the s related integration issues, and (vi) the sensitivity of our industry and the markets in which our products and services, and those of our customers, are addressed to economic downturns resulting from natural disasters, epidemics, pandemics or ” other generalized illnesses, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified in our public documents with the Securities and Exchange Commission, including those listed in the “Risk Factors” sections. ”And“ Forward-looking statements ”in our annual report on Form 20-F for the year ended March 31, 2021. The company assumes no obligation to update the information contained in this document.

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