Binnopharm to acquire two anti-bacterial brands from Dr Reddy's

Binnopharm Group, leading drug producer in Russia via its affiliate Alium, and Indian pharm major Dr Reddy's Laboratories (BSE: 500124) today announced the signing of a deal that will allow Binnopharm Group to acquire anti-bacterial medicines under the Ciprolet (ciprofloxacin) and Levolet (levofloxacin) brands from Dr Reddy’s in Russia, Uzbekistan and Belarus.

The portfolio includes various dosage forms such as tablets, solution for infusions and eye drops. No financial terms of the accord were revealed.

Rustem Muratov, chief executive of the Binnopharm Group, which is part of the UK-based Sistema Group (LSE: SSA), 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.”