Dr. Reddy's and ICICI Venture Announce US$56 Million Partnership

March 28, 2005

Dr. Reddy's Laboratories announced that the company has entered into a US$56 million agreement with ICICI Venture Funds Management Company for the development and commercialization of ANDAs to be filed in 2004-05 and 2005-06. Under the terms of the agreement, ICICI Venture will fund the development, registration and legal costs related to the commercialization of ANDAs on a predetermined basis. This agreement covers most of the ANDAs to be filed by Dr. Reddy's during the years 2004-05 and 2005-06.

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