Dr Reddy's expands portfolio in Russia and CIS via in-licensing deals with Cipla and Vitabiotics
Hyderabad-based Dr Reddy’s Laboratories (DRL; NYSE: RDY), India’s second largest drugmaker, has entered into an agreement with fellow Indian firm Cipla (NSE: CIPLA; BSE 500087) for exclusive marketing rights to a portfolio of prescription drugs and over-the-counter medicines in the Russian and Ukraine markets.
Under the deal, financial terms of which were not disclosed, Dr Reddy’s has initiated the sales and promotion of the portfolio of products from second-quarter fiscal 2011 in select therapy areas in Russia. Launch in Ukraine will take place in the next calendar year.
The company has also entered into an agreement with UK based Vitabiotics for a range of nutraceutical products for Russia and select CIS countries. The accord provides Dr Reddy’s with exclusive marketing rights to two of Vitabiotics leading products - Jointace and Dietrim. Vitabiotics will supply these on a long term basis from its facilities in Europe.
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