Dr Reddy’s said it has already signed an agreement with Sistema Group player Binnopharm Group, which will acquire the brands through its affiliated joint-stock company, Alium, as part of efforts to bolster the company’s antibiotics portfolio. the latter. However, Dr. Reddy’s did not specify the size of the transaction.
Highlighting that Russia and the CIS region continue to be strong performers for the company, Dr. Reddy’s said divesting brands from its non-core areas will allow it to focus its resources and capabilities on its key therapeutic areas of gastroenterology, pain management, colds and flu, allergy, oncology, neurology, pediatrics and women’s health in these markets.
“This will help us accelerate access to affordable and innovative medicines in the region in these segments,” said MV Ramana, CEO – Branded Markets (India and Emerging Markets), Dr Reddy’s.
Binnopharm Group CEO Rustem Muratov said the acquisition was an important step to strengthen the company’s position in the antibiotics market, one of its key market segments.
“These strong brands have already earned the trust of millions of consumers – according to independent analysts’ estimation, they are leaders in their market segments. They will be a valuable addition to our portfolio of antibacterial products. We are also acquiring rights to these products in Belarus and Uzbekistan in line with our strategic goal of strengthening our presence in international markets,” he said.
Meanwhile, Dr. Reddy’s also informed exchanges that the United States Food & Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for its FTO 7 and FTO 9 formulation manufacturing facilities. at Duvvada in Visakhapatnam, indicating the closure of the inspection.