Australian drug discovery and development company Alchemia entered into a $17.5 million agreement with Dr Reddy's laboratories for exclusive intellectual property rights for anti-coagulant drug.
The sale is conditional on shareholder approval, as the sale constitutes a disposal of the company's main undertaking as per ASX listing rules, said the statement by Alchemia.
AdvertisementAn anti-coagulant drug, fondaparinux sodium is generic version of Arixtra drug and has been approved by US and Europe for treating deep vein thrombosis and pulmonary embolism, it added.
Alchemia markets Fondaparinux in the US and other markets through partner Dr. Reddy Laboratories, the statement added.
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