The acquired products will further add to Dr. Reddy's presence in the anti-allergy segment in Russia, Kazakhstan, Ukraine and Uzbekistan
Pharma major Dr Reddy’s Laboratories Ltd has entered into a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire select anti-allergy brands.
As per the agreement, which is subject to completion of certain precedent actions and closing activities, Hyderabad-based Dr Reddy's will 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.
The acquired brands represent two types of products - mometasone mono product and combination of mometasone with azelastine - and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.
“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,'' M V Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s said in a release on Saturday.
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, he added.
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