Hyderabad-based Dr Reddy's Laboratories has become the first Indian pharmaceutical company to launch an anti-cancer drug in the Chinese market, India's ambassador to China Vikram Misri said in a tweet on October 13.
"Some good news this week - a breakthrough for the Indian pharmaceutical industry in China as Abiraterone by Dr Reddy's becomes the first anti-cancer drug from India to enter the Chinese market," Misri tweeted.
Abiraterone Acetate is a drug used for treating prostate cancer. It was first launched in the US in 2020, following approval from the US Food and Drug Administration (USFDA).
In China, Dr Reddy's Laboratories Ltd operates through its joint venture with Rotam Group of Canada. The joint venture is widely known as Kunshan Rotam Reddy Pharmaceutical Co Ltd. (KRRP).
The drug used in cancer treatment is a therapeutic equivalent generic version of Zytiga owned by Johnson & Johnson.
Besides China, Dr Reddy's operates in markets across the globe including, the USA, Russia, and Europe. Abiraterone Acetate is a significant launch for the company, as the Zytiga brand and generic market had the US sales of approximately $454 million, according to IQVIA Health.
A recent Edelweiss report revealed Dr Reddy's as the largest foreign player in China and hoped to launch about 60 products. The firm aims to grow its China portfolio significantly from the current $100-million revenue over the next seven to eight years.
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