HYDERABAD: Dr. Reddy’s Laboratories Ltd. has entered into a definitive agreement with Glenmark Pharmaceuticals Ltd. 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.
The acquired brands represent two types of products, (a) mometasone mono product and (b) combination of mometasone with azelastine, and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.
M V Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets) of Dr. Reddy’s said, “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.
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.”
Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives.
Through its three businesses – Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.