Binnopharm inks pact with Dr Reddy’s to acquire two anti-bacterial brands
Hyderabad: The Sistema Group company, Binnopharm Group, signed an agreement with Dr Reddy’s Laboratories to acquire anti-bacterial medicines under the Ciprolet and Levolet 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. Rustem Muratov, CEO of the Binnopharm Group said, […]
Hyderabad: The Sistema Group company, Binnopharm Group, signed an agreement with Dr Reddy’s Laboratories to acquire anti-bacterial medicines under the Ciprolet and Levolet 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.
Rustem Muratov, CEO of the 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. 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.”
M V Ramana, CEO – 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.”
During the transition period, Dr Reddy’s will continue to supply the product to Binnopharm Group to ensure availability in the market.
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