DR REDDYS LABORATORIES LTD — Capital/Financing Update 2021

Sep 4, 2021

•·· Dr.Reddy's ��•

Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India.

CIN: L85195TG1984PLC004507

Tel :+91 40 4900 2900 Fax :+9140 4900 2999 Email :mail@drreddys.com www.drreddys.com

September 4, 2021

Corporate Relationship Department BSE Limited Dalal Street, Fort Mumbai - 400 001 Fax Nos.: 022-22723121 / 22723719 / 22722037 /22722039

National Stock Exchange of India Ltd. "Exchange Plaza" Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Fax Nos.: 022-26598120/ 26598237/ 26598238

Scrip Code: 500124

Scrip Code: DRREDDY-EQ

Dear Sir/ Madam,

Sub: Press Release

Please find enclosed a Press Release on "Dr. Reddy's Laboratories enters into definitive agreement with Citius Pharmaceuticals, Inc. to sell its rights to anti-cancer agent E7777 (denileukin diftitox)."

This is for your information.

With regards,

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Encl: As above

CC:- New York Stock Exchange Inc. (Stock Code: RDY) NSE IFSC Ltd. (Stock Code: DRREDDY)

Press Release

•·· Dr.Reddy's ��•

DR. REDDY'S LABORATORIES LTD.

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8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. ' AMIT AGARWAL USHAIYER AMITA@DRREDDYS.CQM USHAIYER@DRREDDYS.COM

Dr. Reddy's Laboratories enters into definitive agreement with Citius Pharmaceuticals, Inc. to sell its rights to anti-cancer agent E7777 (denileukin diftitox)

Hyderabad, India, September 04, 2021

For Immediate Release

Hyderabad, India and Princeton, NJ, USA September 04, 2021 - Dr. Raddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: ROY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as "Dr. Raddy's"), announced that it has entered into a definitive agreement with Citius Pharmaceuticals, Inc. ("Citius") pursuant to which it sold all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.

Under the terms of agreement, Dr. Raddy's will receive $40 million upfront upon the closing of the transaction, followed by approval milestone payment of up to $40 million related to the CTCL (cutaneous T­ cell lymphoma) indication approval and up to $70 million for additional indication approvals. Further, Dr. Raddy's will receive certain sales-based milestones and tiered earn-out payments.

In March 2016, Dr. Raddy's had acquired the exclusive global rights (excluding Japan and Asia) to the investigational anti-cancer agent E7777 from Eisai Co. Ltd.

Erez Israeli, Chief Executive Officer, Dr. Raddy's, said: "Addressing unmet patient needs in oncology remains a prime focus area for us. E7777 has significant potential as an important component of systemic therapy for CTCL and other cancers. Post acquiring from Eisai, significant progress was made on the CTCL development front. We are confident of Citius' ability to realize the full potential of E7777 in the treatment of CTCL as well as in their ability to develop this promising drug for additional oncology and immuno-oncology indications".

About Dr. Reddy's: Dr Reddy's Laboratories Ltd (BSE: 500124 NSE: DRREDDY, NYSE: ROY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives Through its three businesses - Pharmaceutical Services & Active Ingredients. Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including APls custom pharmaceutical ser'1ices, generics, biosimilars and differentiated formulations, Our major therapeutic areas of focus are gastrointestinal. cardiovascular diabetology oncology pain management and dermatology Dr Reddy's operates in markets across the globe. Our major markets include - USA, India. Russia & CIS countries, and Europe For more information. log on to: w.drreddys.com

Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the management's current 'Jiews and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance er events to differ materially from those expressed or implied in such statements In addition to statements which are forNard-looking by reason of context, the words "may", "will", "should". "expects·•. ''plans", "intends". "anticipates", ''believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forNard-looking statements Actual results. performance or events may differ materially from those in such statements due to without limitation, (i) general econcmic conditions such as performance of financial markets, credit defaults, currency exchange rates , interest rates , persistency levels and frequency / severity of insured loss e'1ents (ii) mortality and morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or governments, (v) the impact of acquisitions or reorganization , including related integration issues and (vi) the susceptibility of our industry and the markets addressed b1 Jur, and cur customers, products and services to economic downturns as a result of natural disasters. epidemics pandemics or other widespread illness including coronavirus (or C0[1] /ID-19) 3r:d i'd) other ris:,.s and uncertainties :dentified in our public filings with the Securities and Exct1ange Cor-;a,rnissior, includin9 these listed uncer t,"e "Risk !"3,;tors" and "For'Nar:1-l..,Jckir.g Statements" sections of our Anl"ual Report on i: r-n 20-F for the y 1�c:r 8(deC .,10(,:� � '. :r�·:: I ifle cor:ipar[--] y assur.es re ctilic;atior� tc •Jr;cial2 :H�'I infcrmac:on -:cr.ta:red herein