The move is expected to help Dr. Reddy focus on key medical areas
The move is expected to help Dr. Reddy focus on key medical areas
Russian drugmaker Binopharm Group is in the process of acquiring two anti-bacterial brands from Dr Reddy’s Laboratories in Russia and the CIS (Commonwealth of Independent States) region.
In a joint statement, Binopharm said an agreement has been signed to acquire two brands Ciprolet and Levolet from Dr Reddy’s in Russia, Uzbekistan and Belarus. The portfolio includes various dosage forms such as tablets, solutions for infusions and eye drops.
The deal is geared towards dividing brands into non-core areas to try and strengthen the game in the key focus therapy areas of gastroenterology, pain management, cold and flu, allergy, oncology, neurology, pediatrics and women’s health. Step one, said MV Ramana, CEO – Dr Reddy’s Branded Markets (India & Emerging Markets).
He said Russia and CIS markets continue to be strong performers for Dr. Reddy’s. The deal will help the company accelerate access to affordable and innovative drugs in the focus segment in the region, he added.
Binopharma Group CEO Rustam Muratov said that the acquisition of Ciprolet and Levolet is an important step in expanding its position in the antibiotic market, which is one of the key market segments of the Binopharm Group. “They will be a valuable complement to our portfolio of antibacterial products. We are also acquiring rights to these products in Belarus and Uzbekistan in line with our strategic goal of strengthening our presence in international markets.
He added that both the brands are trusted by millions of consumers and are market leaders as estimated by independent analysts.
The entities said Dr Reddy’s will continue to supply the product to the Binopharma Group to ensure market availability during the transition period.
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