10:43 AM EDT, 03/22/2024 (MT Newswires) -- Dr. Reddy's Laboratories (RDY) said Friday it has secured rights to begin sales in India and Nepal for a resuscitative agent for treating a large loss of blood or other fluids from the body under a new licensing agreement with US-based biopharmaceutical company Pharmazz.

Under terms of the agreement, Dr. Reddy's received exclusive rights to market and distribute Pharmazz' Centhaquine medication under the brand name Lyfaquin in the countries in exchange for unspecified upfront payments and royalties. Pharmazz has been developing Centhaquine as a frontline therapy for hypovolemic shock, completing phase 3 testing in 2022 and receiving approval for commercial sales by Drug Controller General of India.

Dr. Reddy's shares were up 1.6% recently.

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