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 :+91 40 4900 2999 Email :mail@drreddys.com www.drreddys.com

Please find enclosed a Press Release on

"Dr. Reddy's Laboratories announces entry into definitive agreement with BioDelivery Sciences International, Inc.,

to sell its U.S. and Canada territory rights for ELYXYB (celecoxib oral solution) 25 mg/mL."

This is for your information.

CC:- New York Stock Exchange Inc. (Stock Code: RDY)

Ltd. (Stock Code: DRREDDY)

Laboratories announces entry into definitive agreement

BioDelivery Sciences International, Inc., to sell its U.S. and Canada

rights for ELYXYB (celecoxib oral solution) 25 mg/mL

Hyderabad, India and Princeton, NJ,

USA. August 04, 2021 - Dr. Reddy's Laboratories Limited (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY,

hereafter known as "Dr. Reddy's"), announced today that it has entered into a definitive asset purchase agreement,

pursuant to which Dr. Reddy's will sell its U.S. and Canada territory rights for ELYXYB (celecoxib oral solution) 25 mg/mL,

to BioDelivery Sciences International, Inc. (BDSI).

Under the terms of agreement, Dr.Reddy's

will receive U.S.$6 million upfront upon closing followed by U.S.$9 million one year from closing. Further, Dr. Reddy's is

eligible to receive event based, sales based milestones and quarterly earn-out payments.

ELYXYB (previously known as DFN-15) is

indicated for the acute treatment of migraine with or without aura in adults.

The closing of the transaction is subject

to satisfactory completion of customary closing conditions including the applicable waiting period under the Hart-Scott-Rodino

Antitrust Improvements Act of 1976 (HSR Act), as amended.

Erez Israeli, Chief Executive Officer

of Dr. Reddy's Laboratories, said: "ELYXYB reaffirmed our commitment to innovation and to develop meaningfully

differentiated products that address significant unmet needs of patients. ELYXYB is an oral solution dosage form which makes it

convenient for patients to take it immediately upon emergence of migraine attacks. Further, we are confident in BDSI's expertise

and believe in their ability to realize the full potential of ELYXYB"

INDICATION AND USAGE

ELYXYB is indicated in adults for the acute

treatment of migraine with or without aura.

IMPORTANT SAFETY INFORMATION:

RISK OF SERIOUS CARDIOVASCULAR AND GASTROINTESTINAL EVENTS

Cardiovascular Thrombotic Events

Gastrointestinal Bleeding, Ulceration,

ELYXB is contraindicated in patients with:

To minimize the potential risk for an adverse

cardiovascular (CV) event in NSAID-treated patients, use ELYXYB for the fewest number of days per month as needed, based on individual

treatment goals. Physicians and patients should remain alert for the development of such events, throughout the entire treatment

course, even in the absence of previous CV symptoms. Patients should be informed about the symptoms of serious CV events and the

steps to take if they occur.

Avoid the use of ELYXYB in patients with

a recent myocardial infarction (MI) unless the benefits are expected to outweigh the risk of recurrent CV thrombotic events. If

ELYXYB is used in patients with a recent MI, monitor patients for signs of cardiac ischemia.

NSAIDs, including ELYXYB, can cause serious

gastrointestinal (GI) adverse events including inflammation, bleeding, ulceration, and perforation of the esophagus, stomach, small

intestine, or large intestine, which can be fatal. These serious adverse events can occur at any time, with or without warning

symptoms, in patients treated with celecoxib. Only one in five patients who develop a serious upper GI adverse event on NSAID therapy

is symptomatic. Upper GI ulcers, gross bleeding, or perforation caused by NSAIDs occurred in approximately 1% of patients treated

for 3 to 6 months, and in about 2% to 4% of patients treated for one year. However, even short-term NSAID therapy is not without

Avoid the use of ELYXYB in patients with

severe heart failure unless the benefits are expected to outweigh the risk of worsening heart failure. If ELYXYB is used in patients

with severe heart failure, monitor patients for signs of worsening heart failure.

Elevations of ALT or AST (less than three

times ULN) may occur in up to 15% of patients treated with NSAIDs, including ELYXYB.

Long-term administration of NSAIDs, including

celecoxib, the active ingredient in ELYXYB, has resulted in renal papillary necrosis and other renal injury.

No information is available from controlled

clinical studies regarding the use of celecoxib in patients with severe renal impairment. The renal effects of celecoxib may hasten

the progression of renal dysfunction in patients with preexisting renal disease.

Overuse of acute migraine drugs (e.g.,

ergotamine, triptans, opioids, nonsteroidal anti-inflammatory drugs or combination of these drugs for 10 or more days per month),

including ELYXYB, may lead to exacerbation of headache (medication overuse headache). Medication overuse headache may present as

migraine-like daily headaches or as a marked increase in frequency of migraine attacks. Detoxification of patients, including withdrawal

of the overused drugs and treatment of withdrawal symptoms (which often includes a transient worsening of headache) may be necessary.

NSAIDs, including ELYXYB, may increase

the risk of bleeding events. Co-morbid conditions such as coagulation disorders or concomitant use of warfarin, other anticoagulants,

antiplatelet drugs (e.g., aspirin), SSRIs, and serotonin norepinephrine reuptake inhibitors (SNRIs) may increase this risk.

Most common adverse reaction (at least

3% and greater than placebo) is dysgeusia.

These are not all the side effects associated

Please see Patient Information, Instructions

For Use, Medication Guide and Full Prescribing Information for ELYXYB.

About Dr. Reddy's: Dr. Reddy's

Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, 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 APIs, custom pharmaceutical services, 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: www.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 views and

assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ

materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of

context, the words "may", "will", "should", "expects", "plans", "intends",

"anticipates", "believes", "estimates", "predicts", "potential", or "continue"

and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those

in such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit

defaults , currency exchange rates , interest rates , persistency levels and frequency / severity of insured loss events (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 by our, and our customers', products and services to economic downturns as a result of natural disasters, epidemics,

pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties identified