Benzinga | Nov 16, 2021 08:07AM EST

Dr. Reddy's Ready To Make COVID-19 Antiviral From Pfizer - Reuters

* Dr. Reddy's Laboratories Ltd (NYSE:RDY) said it was open to making Pfizer Inc's (NYSE:PFE) COVID-19 antiviral pill, Reuters reported.

* The new drugs can be used to treat patients once they contract coronavirus infection and are expected to be a substantial market.

* Merck Inc (NYSE:MRK) has given out licenses to manufacturers in developing countries to ensure a swift global supply, and companies are hopeful that Pfizer will do the same.

* Related: Merck Teams Up With Indian Generic Players To Expand COVID-19 Drug Access, Production.

* "Yeah, yeah, absolutely," Dr. Reddy's co-chairman and managing director, G.V. Prasad, told Reuters in an interview when asked about making rival products from the U.S. companies.

* "Dr. Reddy's remains open to all opportunities," a company spokesperson said separately.

* Prasad said Dr. Reddy's had not yet initiated any talks with Pfizer before the U.S. company sought regulatory permissions.

* Dr. Reddy's expects the Indian regulator to approve Merck's molnupiravir as soon as the FDA does.

* Britain and Bangladesh have already authorized the drug, and India could be a big market with 1.35 billion people.

* Also Read: Indian Study Shows Merck's COVID-19 Antiviral Candidate Less Effective Against Moderate Infection: Reuters.

* Price Action: MRK shares are down 0.96% at $82.89 during the premarket session on the last check Tuesday.