(RTTNews) – Dr. Reddy’s Laboratories Ltd. (RDY) announced that it has agreed with Glenmark Pharmaceuticals Ltd. (GLENMARK, 532296) to acquire certain anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquisition will be subject to completion of certain precedent actions and closing activities.
Dr. Reddy’s said that it will buy 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), along-with rights to the trademarks, dossiers and patents for the territories mentioned.
The company acquired brands represent two types of products, mometasone mono product and combination of mometasone with azelastine, and are indicated for the 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.”
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