Binnopharm Group inks pact to acquire two anti-bacterial brands from Dr. Reddy's in the Russia -; CIS region

21 Feb 2022 , 09:15 AM

In its press release on Monday, 21 February 2022, Dr. Reddy’s Laboratories Ltd., an integrated global pharmaceutical company, announced that the company has signed a deal with one of the leading pharmaceutical production companies in Russia, namely, Binnopharm Group. This deal allows Binnopharm Group to acquire anti-bacterial medicines under the Ciprolet and Levolet brands from Dr. Reddy’s in Russia, Uzbekistan, and Belarus. The portfolio includes various dosage forms such as tablets, solutions for infusions, and eye drops.

M.V. Ramana, CEO — Branded Markets (India & Emerging Markets), said: “Our Russia and CIS markets continue to be strong performers for the company. This deal is a step towards divesting brands in non-core areas in order to consolidate and strengthen our play further in our key focus therapy areas of gastro-enterology, pain management, cold and flu, allergy, oncology, neurology, paediatrics and women’s health. This will help us accelerate access to affordable and innovative medicines in the region in these segments in keeping with our purpose of ‘Good Health Can’t Wait’.

“The acquisition of Ciprolet® and Levolet® is an important step to enhance our position in the antibiotics market, one of the key market segments for Binnopharm Group. These strong brands have already had the trust of millions of consumers — according to independent analyst estimation they are leaders in their market segments. 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,” commented Rustem Muratov, CEO of the Binnopharm Group.

During the transition period, Dr. Reddy’s will continue to supply the product to Binnopharm Group to ensure availability in the market.

Dr Reddys Laboratories is currently trading at Rs4,397.75 up by Rs76.60 or 1.77% from its previous closing of Rs4,321.15 on the NSE. The scrip opened at Rs4,376.