Dr. Reddy's inks deal with Hatchtech for lice treatment

HYDERABAD, India — Dr. Reddy’s laboratories signed a commercialization deal with Australia’s Hatctech for the marketing rights to Hatchtech’s developing lice treatment. Hatchtech will be filing a new drug application with the Food and Drug Administration for the treatment, Xeglyze, that if approved will be marketed through Dr. Reddy’s Promius Pharma.

Hatchtech will pay Dr. Reddy’s $10 million upfront and potentially as much as $50 million based on milestones linked to sales targets.