Dr. Reddy’s Laboratories has entered into a definitive agreement with Glenmark Pharmaceuticals to acquire select anti-allergy brands in some CIS countries, including Russia.
The companies, in separate statements, said Dr. Reddy’s will acquire from Glenmark brands Momat Rino (for Russia, Kazakhstan and Uzbekistan); Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), Glenspray and Glenspray Active (for Ukraine) alongwith rights to the trademarks, dossiers and patents.
The acquisition will be subject to completion of certain precedent actions and closing activities. The brands being acquired represent two types of products – mometasone mono product and combination of mometasone with azelastine – and indicated for treatment of seasonal and perennial allergic rhinitis.
Dr. Reddy’s CEO (Branded Markets-India and Emerging Markets) M.V. Ramana said, “the new brands are a great addition to our product portfolio in Russia, Ukraine, Kazakhstan and Uzbekistan which are important core markets for us. Momat Rino, the largest brand acquired, has recently received OTC registration in Russia and this will enable accelerated access of this product to patients. The acquired products will further add to Dr. Reddy’s strong presence in the anti-allergy segment in these countries.”
Glenmark Pharmaceuticals Chief Commercial Officer Robert Crockart said, “in line with the strategy to launch Ryaltris, our global anti-allergy brand, in the markets of Russia and other CIS countries, we decided to divest the Momat Rino brand and its extension.” The company is awaiting approval to launch Ryaltris in Russia.