Dr. Reddy’s investing in industry digital initiative

Dr. Reddy’s investing in industry digital initiative

Drugmaker Dr. Reddy’s Laboratories said it has entered into an agreement with ABCD Technologies LLP, an industry digital initiative, to facilitate and promote efficiency in pharma supply chain. It is contributing ₹40 crore to the firm, which is to be renamed as IndoHealth Services LLP.

The overall contribution is scalable with the same share of profit/loss corresponding to the contribution of other partners. For now, it is up to 20% share of profit/ loss in the firm, a regulatory filing by Dr. Reddy’s said.

Sun Pharmaceutical Industries, Lupin, Cadila Healthcare and Torrent Pharma are the other drugmakers who have recently got into such partnership agreements with ABCD Technologies.

Dr. Reddy’s said the transaction is in line with its purpose of accelerating access and affordability of medicines to all and the strategy of leveraging digital technology and infrastructure towards this. The proposed business of ABCD Technologies will be carried out with an objective to facilitate digitalisation of the healthcare infrastructure in India towards enhancement of Good Distribution Practices, including support of the National Digital Health Mission of the Centre.

ABCD Technologies will be the holding entity and undertake business through one more LLPs or subsidiaries..

  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

Printable version | May 9, 2021 5:39:09 PM |

Next Story