Dr. Reddy’s to Acquire Select Anti-Allergy Brands from Glenmark in Russia, Ukraine, Kazakhstan and Uzbekistan
November 28 2020 - 11:33AM
Business Wire
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE:
RDY, along with its subsidiaries together referred to as “Dr.
Reddy’s”) today announced that it 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 (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.
M V Ramana, Chief Executive Officer, Branded Markets (India and
Emerging Markets) of Dr. Reddy’s said, “The new brands are a great
addition to our product portfolio in Russia, Ukraine, Kazakhstan
and Uzbekistan which are important core markets for us. 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.”
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About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE:
500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical
company, committed to providing affordable and innovative medicines
for healthier lives. Through its three businesses - Pharmaceutical
Services & Active Ingredients, Global Generics and Proprietary
Products – Dr. Reddy’s offers a portfolio of products and services
including APIs, custom pharmaceutical services, generics,
biosimilars and differentiated formulations. Our major therapeutic
areas of focus are gastrointestinal, cardiovascular, diabetology,
oncology, pain management and dermatology. Dr. Reddy’s operates in
markets across the globe. Our major markets include – USA, India,
Russia & CIS countries, and Europe. For more information, log
on to: www.drreddys.com
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Disclaimer: This press release may include statements of future
expectations and other forward-looking statements that are based on
the management’s current views and assumptions and involve known or
unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in such statements. In addition to statements which are
forward-looking by reason of context, the words "may", "will",
"should", "expects", "plans", "intends", "anticipates", "believes",
"estimates", "predicts", "potential", or "continue" and similar
expressions identify forward-looking statements. Actual results,
performance or events may differ materially from those in such
statements due to without limitation, (i) general economic
conditions such as performance of financial markets, credit
defaults , currency exchange rates, interest rates, persistency
levels and frequency / severity of insured loss events, (ii)
mortality and morbidity levels and trends, (iii) changing levels of
competition and general competitive factors, (iv) changes in laws
and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization,
including related integration issues, and (vi) the susceptibility of our industry
and the markets addressed by our, and our customers’, products and
services to economic downturns as a result of natural disasters,
epidemics, pandemics or other widespread illness, including
coronavirus (or COVID-19), and (vii) other risks and uncertainties
identified in our public filings with the Securities and Exchange
Commission, including those listed under the "Risk Factors" and
"Forward-Looking Statements" sections of our Annual Report on Form
20-F for the year ended March 31, 2020. The company assumes no
obligation to update any information contained herein.”
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INVESTOR RELATIONS AMIT AGARWAL amita@drreddys.com (PH:
+91-40-49002135)
MEDIA RELATIONS APARNA TEKURI aparnatekuri@drreddys.com
(PH: +91-40- 49002446)
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