  Using the Quark-Gluon Strings Model (QGSM) combined with Regge phenomenology
we consider the reactions $\pi^- p \to K^0 \Lambda$ and $\pi^- p \to D^-
\Lambda_c^+$ which are dominated by the contributions of the $K^*$ and $D^*$
Regge trajectories, respectively. The spin structure of the amplitudes is
described by introducing Reggeized Born terms. It is found that the existing
data for the reaction $\pi^- p \to K^0 \Lambda$ are in reasonable agreement
with the model predictions. To describe the absolute values of the cross
sections it is necessary to introduce also suppression factors which can be
related to absorption corrections. Furthermore, assuming the SU(4) symmetry to
hold for Regge residues and the universality of absorption corrections we
calculate the cross section of the reaction $\pi^- p \to D^- \Lambda_c^+$.
Employing the latter results from $\pi^- p$ reactions we then estimate the
contributions of the pion exchange mechanism to the cross sections of the
reactions $NN \to NK\Lambda$ and $NN \to N\bar D \Lambda_c$ and compare them
with the contributions of the $K$ and $D$ exchanges. We find that the $NN$
reactions are dominated not by pion exchange but by $K$ and $D$ exchanges,
respectively. Moreover, assuming the SU(4) symmetry to hold approximately for
the coupling constants $g_{ND \Lambda_c}$ = $g_{NK \Lambda}$ we analyze also
the production of leading $\Lambda_c$ hyperons in the reaction $NN \to
\Lambda_c X$. It is shown that the non-perturbative mechanism should give an
essential contribution to the $\Lambda_c$ yield for $x \geq 0.5$.
