Dr Reddy's Laboratories has set up a wholly owned subsidiary Promlus Pharma in US to undertake specialty business. The subsidiary will initially focus on the branded dermatology market and it is based on a platform of strategic licensing initiatives and internal product development activities. Its product portfolio currently comprises of there in-licensed and co-developed dermatological products that are scheduled to launch within calendar years 2008-09. The subsidiary is located at Bridgewater, New Jersey.

Promius' current portfolio contains innovative topical products for the treatment of psoriasis, atopic dermatitis and seborrheic dermatitis. The company has assembled a management team with significant experience within the US dermatology market to accelerate it into a leading position within the dermatology marketplace. Jeffrey Wasserstein, executive vice president of DRL's North America and Promius Pharma, stated, "We are looking to develop a best-in-class company in order to accomplish this goal, we are bringing together the most talented people from a cross-section of dermatology companies. We have hired a nationally deployed sales force, are currently manufacturing commercial product and are putting the final touches to our launch plans."

Commenting on the strategic event, G V Prasad, vice-chairman and CEO of DRL, said, "We are pleased to announce Promius Pharma, our US Speialty Business, a meaningful milestone in our overall strategy of building a sustainable and profitable branded business. We are committed to establishing a leading position in the US dermatology market by providing innovative solutions to patients and physicians that leverage Promius Pharma's current portfolio and future additions."