Featured Articles
Global pharmaceutical company uses Yorkshire technology for new product - 24/08/2008
The Medical House plc, a specialist drug delivery organisation based in Sheffield, has signed a development, licensing and supply agreement with the global pharmaceutical company Dr Reddy’s Laboratories.
Under the terms of the agreement, The Medical House will customise its patented AutoSafety disposable auto injector device technology according to an agreed specification and this will be combined with an undisclosed drug by Dr Reddy’s to create a new self-injectable product.
Headquartered in India, Dr Reddy’s has a presence in more than 100 countries, including Russia, Germany, Brazil and China, potentially offering a huge market for the product.
The agreement, worth an estimated £5m for The Medical House, covers an initial five years of supply within USA, European Union and Canada – with an option for Dr Reddy’s to extend the agreement to the rest of the world.
Ian Townsend, chairman of The Medical House plc said: “We are delighted to have reached this agreement with such a well respected company as Dr Reddy’s. We see this as another endorsement of our technology and it adds another project to our growing list, which will provide us with a diverse income stream over a number of years.”
The Medical House plc is a group of companies which specialises in the design, development, licensing and supply of innovative medical devices for global pharmaceutical and biotechnology industry clients.
