The brands add to core markets
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as Dr. Reddy’s) has entered into a definitive agreement with Glenmark Pharmaceuticals Ltd to acquire, subject to completion of certain precedent actions and closing activities, brands Momat Rino.
These Momat Rino are (for Russia, Kazakhstan and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine), along-with rights to the trademarks, dossiers and patents for the territories mentioned.
The acquired brands represent two types of products, (a) mometasone mono-product and (b) combination of mometasone with azelastine, and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.
“The new brands are a great addition to our product portfolio in Russia, Ukraine, Kazakhstan and Uzbekistan which are important core markets for us,” M V Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets) of Dr. Reddy’s said on 28 Nov 2020.
Momat Rino, the largest brand acquired, has recently received OTC registration in Russia and this will enable accelerated access of this product to patients.
“The acquired products will further add to Dr. Reddy’s strong presence in the anti-allergy segment in these countries, and will also enable us to offer a more comprehensive solution to patients in this area,” he said. #health #investment /fiinews.com
