I-Ven Pharma Capital Limited (IPL) is a Special Purpose Vehicle created for the purpose of funding Research, Development and Commercialization of Pharmaceutical products by Dr. Reddy's Laboratories Ltd. ("DRL") for the US market. Termed as one of the largest deals in the pharmaceutical sector in India, its the first deal of its kind to have provided a structured mechanism to Research & Development funding.

IPL has partnered with Dr. Reddy's in sharing of expenses for the development costs, FDA filing costs and legal expenses for all Abbreviated New Drug Applications (ANDA) filed during the period of the agreement. Upon successful commercialization of these products in the US market, IPL shall receive a fixed percentage of net sales for a period of 5 years on each product.