Dr. Reddy’s to sell two anti-bacterial brands in Russia and CIS to Binnopharm
Dr. Reddy’s Laboratories has agreed to divest anti-bacterial medicines under the Ciprolet and Levolet brands in Russia, Uzbekistan, and Belarus to Binnopharm Group, a Sistema Group company.
The financial terms of the deal were not disclosed.
The portfolio included in the deal has various dosage types such as tablets, solution for infusions, as well as eye drops.
For Dr. Reddy’s Laboratories, the sale of the anti-bacterial medicines from its non-core areas will enable it to concentrate its resources and capabilities on its highly imprtant therapy spaces of gastroenterology, pain management, allergy, cold and flu, neurology, oncology, paediatrics, and women’s health.
M.V. Ramana — CEO of Dr. Reddy’s Laboratories Branded Markets (India & Emerging Markets), said: “Our Russia and CIS markets continue to be strong performers for the company. This deal is a step towards divesting brands in non-core areas in order to consolidate and strengthen our play further in our key focus therapy areas of gastro-enterology, pain management, cold and flu, allergy, oncology, neurology, paediatrics and women’s health.
“This will help us accelerate access to affordable and innovative medicines in the region in these segments in keeping with our purpose of ‘Good Health Can’t Wait’.”
Dr. Reddy’s Laboratories to sell two anti-bacterial brands in Russia and CIS to Binnopharm Group. Photo courtesy of Karthikndr/Wikimedia Commons.
Binnopharm Group will acquire the Ciprolet and Levolet anti-bacterial brands through its affiliate joint stock company — Alium in an effort to bolster its antibiotic portfolio.
Rustem Muratov — CEO of Binnopharm Group said: “The acquisition of Ciprolet and Levolet is an important step to enhance our position in the antibiotics market, one of the key market segments for Binnopharm Group. These strong brands have already had the trust of millions of consumers – according to independent analyst estimation they are leaders in their market segments.
“They will be a valuable complement to our portfolio of antibacterial products. We are also acquiring rights to these products in Belarus and Uzbekistan in line with our strategic goal to strengthen presence in the international markets.”