According to the press release, Binnopharm Group, one of the leading pharmaceutical production companies in Russia, has signed a deal with and Dr. Reddy’s Laboratories Ltd. to acquire its anti-bacterial medicines under the Ciprolet® and Levolet® brands 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. These strong brands have already had the trust of millions of consumers – according to independent analyst estimation they are leaders in their market segments. They will be a valuable complement to our portfolio of antibacterial products. 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. This will help us accelerate access to affordable and innovative medicines in the region in these segments in keeping with our purpose of ‘Good Health Can’t Wait’.
Dr. Reddy’s will continue to provide the product to Binnopharm Group during the transition period to ensure availability in the market in Russia & CIS region.