Dr. Reddy's Laboratories Limited Announce Agreement for Utilizing Incyte LifeSeq® Gold Online LifeSeq® Gold to Further Advance Dr. Reddy's Research and Development Programs in Cancer, Diabetes, Infectious Diseases and Pain Therapeutic Development Through Genomics Palo Alto, CA, Hyderabad, India and Atlanta, Georgia, November 20, 2001 - Dr. Reddy's Laboratories Limited (NYSE: RDY), an emerging global pharmaceutical company, and Reddy US Therapeutics, Inc. ("Reddy US"), a wholly-owned subsidiary of Dr. Reddy's, and Incyte Genomics, Inc. (Nasdaq: INCY), the leading genomic information company, today announced the signing of a collaborative agreement allowing Dr. Reddy's and Reddy US access to LifeSeq® Gold, Incyte's industry-leading gene sequence database and to ZooSeq™, Incyte's animal model database. Financial terms of the agreement have not been disclosed. Although financial terms were not disclosed, under the terms of the agreement, Dr. Reddy's and Reddy US will have non-exclusive access to Incyte's significant intellectual portfolio of genes. Dr. Reddy's and Reddy US will be able to access Incyte's high-quality sequence-verified cDNA clones, or copies of genes, for further research in the laboratory. Dr. Reddy's and Reddy US will also have the opportunity to leverage Incyte's industry-leading bioinformatics capabilities to aid in the discovery of additional proteins to accelerate discovery of target proteins for small molecule therapeutics. "We are pleased that Dr. Reddy's has chosen the Incyte LifeSeq Gold database to further their therapeutic research and development efforts," said Roy A. Whitfield, Chief Executive Officer of Incyte. "Dr. Reddy's decision to employ genomics into their research and development efforts serves as a good indicator of their progressive thinking and aggressive approach to pharmaceutical development. Researchers at Dr. Reddy's will be able to cross-reference data from ZooSeq™ with LifeSeq to better predict a drug's behavior, efficacy, and side effects. In addition, they will be able to utilize Incyte's vast computer processing power, and benefit from our industry leading position in generating and managing genomic information." Dr. K. Anji Reddy, Chairman of Dr. Reddy's Laboratories Limited and Reddy US Therapeutics, Inc., said, "In this post-genomic era, we recognize that genome-based research is essential for drug discovery." He further added, "Based upon our analysis of the current genome-based products, we believe that our collaborative agreement with Incyte will help to accelerate the process identifying new therapeutic targets. Our expertise in drug discovery and medicinal chemistry, together with the information contained in the Incyte database, will lead to important new pharmaceutical compounds." The LifeSeq® Gold database provides researchers with a comprehensive view of the entire human genome by integrating proprietary expressed sequence tag (EST) and full-length gene sequence information, mapping data and in addition to public genomic sequence information. The database contains more than 120,000 gene transcripts of which approximately half are not commercially available elsewhere. About Incyte Genomics, Inc. Incyte Genomics, Inc. has developed the leading integrated platform of genomic technologies designed to aid in the understanding of the molecular basis of disease. Incyte develops and markets genomic databases and partnership programs, and related reagents. These products, programs and services assist pharmaceutical and biotechnology researchers with all phases of drug discovery and development including gene discovery, understanding disease pathways, identifying new disease targets and the discovery and correlation of gene sequence variation to disease. In addition, Incyte has the largest portfolio of issued United States patents covering human full-length genes and the proteins they encode and is leveraging its intellectual property position to be a leader in therapeutic discoveries. For more information, visit Incyte's web site at http://www.incyte.com or contact Paul Chirico, Investor Relations & Corporate Communications, at +1 650-845-4589. About Dr. Reddy's Laboratories Limited Established in 1984, Dr. Reddy's Laboratories (NYSE: RDY) is an emerging global pharmaceutical company with proven basic research capabilities. The company develops, manufactures and markets a wide range of pharmaceutical products in India and overseas. Dr. Reddy's produces finished dosage forms, active pharmaceutical ingredients, diagnostic kits, critical care and biotechnology products. The basic research program of Dr. Reddy's focuses on cancer, diabetes, bacterial infections and pain management. For further information on Dr. Reddy's, visit Dr. Reddy's web site at http://www.drreddys.com or contact, R. Rammohan, Corporate Communications, at rammohanr@drreddys.com or at +91-40-6511620, and Artie Rokkam/Nikhil Shah, Investor Relations, at artie@drreddys.com / nikhilshah@drreddys.com or at +91-40-3736338. About Reddy US Therapeutics, Inc. Reddy US Therapeutics, Inc. is a privately held biopharmaceutical company engaged in drug discovery utilizing a proprietary research platform to rapidly identify and validate drug targets in the vascular cell matrix signaling pathway. The company was founded in November 1999 as a subsidiary of Dr. Reddy's Laboratories Limited (NYSE: RDY), Hyderabad, India. The primary therapeutic areas that Reddy US Therapeutics has targeted with their drug discovery efforts are diabetes, inflammation, lipid metabolism, oncology, and cardiovascular disease. Further information on Reddy US Therapeutics, Inc. can be found at www.reddyus.com or by contacting, Richard T. Timmer, Ph.D., Corporate and Business Development, at 770-446-9500, x227 or at rtimmer@reddyus.com. This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future. Except for the historical information contained herein, the matters set forth in this press release, including without limitation statements as to the role that Incyte's products, proprietary technology, bioinformatics capabilities and database information will play in third-party research programs generally and, in particular, in the research and drug discovery efforts of Dr. Reddy in its areas of interest and for the purpose of identifying target proteins for small molecule therapetics, the ability of the collaboration to accelerate the process of identifying new therapeutic targets and to develop new pharmaceutical compounds, and Incyte's ability to leverage its intellectual property to become a leader in therapeutic discoveries, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the extent to which the collaborative agreement between the parties will result in any subsequent commercialization of any product in the market, the extent to which Incyte's genomic databases are utilized in pharmaceutical research and development; the ability of Incyte to provide products and services that meet market needs; the impact of competition and alternative technologies, processes and approaches on each company's respective businesses; technological uncertainties in each company's respective business; changes in either company's business plan; Incyte's ability to obtain patent protection for its discoveries and to continue to be effective in expanding its patent coverage and to grow its intellectual property portfolio, and other risks detailed from time to time in Incyte's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2001. These forward-looking statements speak only as of the date hereof. Incyte disclaims any intent or obligation to update these forward-looking statements.