Last Updated on December 9, 2020 by The Health Master
Dr Reddy’s Laboratories announced that it has entered into a definitive agreement with Glenmark Pharmaceuticals to acquire, subject to completion of certain precedent actions and closing activities, 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 acquired brands represent two types of products, (a) mometasone mono-product and (b) combination of mometasone with azelastine, and are indicated for the treatment of seasonal and perennial allergic rhinitis.
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MV Ramana, CEO, Branded Markets (India and Emerging Markets) of Dr Reddy’s 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.
Glenmark informed that the divestment is In line with their strategy to launch Ryaltris, their global anti-allergy brand, in Russia and other CIS countries.