RUSSIA – Binnopharm Group, a Sistema Group company, has announced that it will acquire Dr. Reddy’s Laboratories’ anti-bacterial medicines sold under the Ciprolet and Levolet brands in Russia, Uzbekistan, and Belarus.
In this regard, the Binnopharm Group, one of Russia’s leading pharmaceutical production companies, has signed an agreement with Dr Reddy’s.
The product portfolio includes tablets, infusion solutions, and eye drops, among other dosage forms.
According to M.V. Ramana, CEO – Branded Markets (India and Emerging Markets) of Dr. Reddy’s, the deal is a step toward divesting brands in non-core areas in order to consolidate and strengthen play in key focus therapy areas of gastroenterology, pain management, cold and flu, allergy, oncology, neurology, pediatrics, and women’s health.
He stated that Russia and the Commonwealth of Independent States (CIS) markets continue to be strong performers for Dr. Reddy’s.
The two brands are trusted by millions of consumers and as per independent analyst estimation are leaders in their market segments.
The agreement will assist the company in accelerating access to affordable and innovative medicines in the region’s focus segments.
Dr. Reddy’s will continue to supply the product to Binnopharm Group during the transition period to ensure availability in the market, the entities said.us.
Binnopharm Group CEO Rustem Muratov said the acquisition of Ciprolet and Levolet is an important step to enhance position in the antibiotics market, one of the key market segments for Binnopharm 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 to strengthen presence in the international markets.”
Dr. Reddy’s Laboratories is a pharmaceutical conglomerate. It has a product and service portfolio that includes APIs, custom pharmaceutical services, generics, biosimilars, and differentiated formulations. Its major markets include the United States, India, Russia and the CIS countries, and Europe.
Separately, the drugmaker has announced that its formulations manufacturing facilities (FTO 7 & FTO 9) in Duvvada, Visakhapatnam, had received the Establishment Inspection Report (EIR) from the US drug regulator, indicating that the inspection had been completed.
Further to that, Dr. Reddy’s Laboratories recently announced that it has entered into agreement with Mankind Pharma to sell off two of its pharmaceutical brands, Combihale and Daffy to the latter company.
Daffy is a soap-free moisturizing bar for infants, whereas Combihale is used to treat asthma and chronic obstructive pulmonary disease.
Mankind Pharma will take over the manufacturing, marketing, and distribution of both products in India, according to the terms of the definitive agreement signed between the companies.
The entire brand integration and transition is expected to be completed by March 2022.
Liked this article? Sign up to receive our regular email newsletters, focused on Africa and World’s healthcare industry, directly into your inbox. SUBSCRIBE HERE
