Hybio Pharmaceutical and Dr. Reddy’s Sign non-binding strategic cooperation term sheet on Peptide APIs to Advance Global Peptide Collaboration

December 25 — Hybio Pharmaceutical and Dr. Reddy’s Laboratories Limited (referred to as “Dr. Reddy’s”), a global pharmaceutical company, held a signing ceremony in Beijing, where the two parties formally executed a non-binding strategic cooperation term-sheet covering peptide active pharmaceutical ingredients (APIs) and related formulations, marking a positive commencement of exploration of their strategic collaboration.

The term-sheet was signed by Mr. Zeng Shaogui, Founder, Chairman and President of Hybio Pharmaceutical, and Mr. Erez Israeli, Chief Executive Officer of Dr. Reddy’s, on behalf of the respective parties. The ceremony was attended and witnessed by senior executives from both sides, including Mr. Tang Yangming and Mr. Shen Yaping, Directors and Executive Vice Presidents of Hybio Pharmaceutical, as well as Mr. M.V. Ramana , Chief Executive Officer – Branded Markets (India and Emerging Markets) of Dr. Reddy’s, and Mr. Satheeshkumar Sriharan, Head of China and Greater China Cluster at Dr. Reddy’s.

The collaboration is the result of extensive preliminary discussions and strong strategic alignment between the two companies. In September 2025, a delegation led by Dr. Reddy’s Global CEO visited Hybio Pharmaceutical’s headquarters and manufacturing facilities. During the visit, the parties conducted in-depth discussions on Peptide Drug R&D innovation, global commercialization strategies, and potential strategic cooperation directions, followed by multiple rounds of face-to-face exchanges at international industry events, including CPHI.

Pursuant to the cooperation framework, the parties have reached preliminary consensus on the scope of cooperation and overall strategy for multiple peptide API products. Hybio Pharmaceutical will act as a preferred partner for the development and supply of peptide APIs for Dr. Reddy’s peptide formulation business. For certain products, the collaboration may adopt priority or semi-exclusive arrangements, subject to minimum purchase commitments, with a view to establishing a long-term and stable global partnership. In addition, the parties will conduct exploratory discussions regarding potential cooperation in generic drugs, oligonucleotides, and other areas, with the aim of expanding into a broader range of therapeutic fields.

Dr. Reddy’s operates in more than 80 markets worldwide, with established capabilities in regulatory registration, formulation development, and commercialization, and regards peptides as a strategic growth area. Hybio Pharmaceutical, meanwhile, possesses advanced R&D platforms, scalable manufacturing capabilities, and a continuously expanding product pipeline in the peptide API field. By leveraging their complementary strengths and engaging in early-stage R&D collaboration, the parties expect to enhance development efficiency and accelerate the global delivery of high-quality peptide products.

Mr. Zeng Shaogui, Chairman and President of Hybio Pharmaceutical, commented: “This strategic cooperation with Dr. Reddy’s represents an important milestone in Hybio Pharmaceutical’s global peptide strategy. Starting with peptide APIs, the two parties will continue to deepen collaboration in peptide formulation development and explore opportunities in oligonucleotides and other areas, fully leveraging our respective strengths in technology, manufacturing capacity, and market access to promote innovation in the peptide therapeutics field.”

Mr. Erez Israeli, Chief Executive Officer of Dr. Reddy’s, stated:“Hybio Pharmaceutical’s technical expertise and well-established industrialization capabilities in peptide APIs are highly complementary to our global strengths in formulation R&D, regulatory submissions, and market networks. We firmly believe that this collaboration will not only generate mutual commercial value, but also has the potential to establish a globally representative model for peptide industry cooperation and contribute to the high-quality development of the global peptide sector.”

About Hybio Pharma

An A-share listed, state-level high-tech enterprise dedicated to the R&D, manufacturing, and marketing of innovative medicines. With over 20 years of focus on peptide therapeutics, Hybio Pharma has built a comprehensive formulation pipeline covering the world’s major peptide targets. Its portfolio includes first-in-class triple agonists for GLP-1R/GIPR/GCGR, as well as global blockbuster peptide ANDA products such as retatrutide, tirzepatide, semaglutide, and liraglutide. Hybio Pharma owns nearly 500 granted patents at home and abroad and was the first company worldwide to receive U.S. FDA approval for a generic daily GLP-1 Liraglutide Injection. Its products are already marketed in the regulated markets of Europe and the United States.

About Dr. Reddy’s

Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad, India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of ‘Good Health Can’t Wait’, Dr. Reddy’s offers a portfolio of products and services including APIs, generics, branded generics, biosimilars, innovative drugs, and OTC. Our major therapeutic areas of focus are oncology, gastroenterology, cardiology, diabetology, pain management and dermatology. Our major markets include – USA, India, Russia & CIS countries, China, Brazil, and Europe. As a company with a history of deep science that has led to several industry firsts, Dr. Reddy’s continues to plan and invest in businesses of the future. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: www.drreddys.com