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Dr Reddy's to acquire select brands from Glenmark in Russia, Ukraine

Dr Reddy's Laboratories on Saturday said it had inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan

Dr Reddys | Glenmark Pharmaceuticals | Mergers & Acquisitions

Press Trust of India  |  New Delhi 

Dr Reddy's

Dr Reddy's Laboratories on Saturday said it has inked a pact with to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan.

The Hyderabad-based company has entered into a definitive agreement with Glenmark to acquire 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, Dr Reddy's Laboratories said in a statement.

The acquired brands represent two types of products -- mometasone mono product and combination of mometasone with azelastine, which are indicated for the treatment of seasonal and perennial allergic rhinitis, it added.

The company however did not disclose financial details.

"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," Dr. Reddy's Laboratories Branded Markets (India and Emerging Markets) CEO M V Ramana said.

The acquired products will further add to the company's strong presence in the anti-allergy segment in these countries, and will also enable it to offer a more comprehensive solution to patients in this area, he added.

In a separate statement, Chief Commercial Officer Robert Crockart said: In line with our strategy to launch Ryaltris, our global anti-allergy brand, in the markets of Russia and other CIS countries, we decided to divest the Momat Rino brand and its extension."

As the company awaits approval to launch Ryaltris in the Russian market, it looks forward to strengthen respiratory franchise in the Russia/CIS region, he added.

"We remain committed to the respiratory space globally," Crockart noted.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sat, November 28 2020. 22:53 IST