Hyderabad-based Dr. Reddy’s Laboratories Ltd announced that it has entered into a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire the latter’s select anti-allergy brands in Russia, Kazakhstan, Ukraine, Uzbekistan.
The acquisition is subject to completion of certain precedent actions and closing activities. The brands that will be acauired are Momat Rino (for Russia, Kazakhstan and
Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine).
These brands will be acquired along-with rights to the trademarks, dossiers and patents for the territories mentioned.
The brands represent two types of products- (i) mometasone mono product and (ii) combination of mometasone with azelastine, and are indicated for the treatment of Seasonal and Perennial Allergic Rhinitis.
According to M V Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets) of Dr. Reddy’s, “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.”
He added that 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.
(With inputs from The OnLook News Research Bureau)