Dr. Reddy’s to sell and distribute certain Novartis’ products in India
Dr. Reddy’s Laboratories has signed an exclusive sales and distribution agreement with Novartis India Limited (NIL) for the latter’s Voveran range, the Calcium range and Methergine in India.
As per the agreement, Dr. Reddy’s Laboratories will hold exclusive rights to promote and distribute the two brands in India. The company said that it will leverage its strengths in promotion as well as distribution to significantly increase its engagement with healthcare professionals with the objective of facilitating access to patients in need.
M.V. Ramana — CEO of Dr. Reddy’s Laboratories Branded Markets (India and Emerging Markets) said: “We are delighted to enter into this arrangement with NIL to promote and distribute these well-established brands that are trusted by patients and healthcare professionals.
“Our India business has been a strong growth driver and remains a key focus market for us. This arrangement will strengthen our portfolio in the pain management and women’s health areas. It is our endeavour to build on the legacy created by NIL over the years and we intend to evaluate capabilities to maintain business continuity.”
Dr. Reddy’s Laboratories to sell and distribute certain Novartis’ products in India. Photo courtesy of Karthikndr/Wikimedia Commons.
Novartis India said that the agreement with Dr. Reddy’s Laboratories is targeted at further expanding access of the medicines beyond the present geographies to benefit many more patients, more efficiently, by considerably extending the reach of healthcare professionals via an increased field force.
Novartis, the parent company of Novartis India, will retain trademark ownership of the medicines.
However, the business decision taken by Novartis India regarding the products has made nearly 400 employees redundant.
Sanjay Murdeshwar — Novartis India Country President and Managing Director said: “Today, on one hand, keeping the patient interest at the center, we have entered this strategic business arrangement with Or. Reddy’s Laboratories to extend access to our Established Medicines to benefit more patients in India efficiently.
“On the other hand, we understand the implication on the roles of our colleagues in Novartis India Limited and are doing our best to support them.”