AsianScientist (Jul. 24, 2011) – Dr. Reddy’s Laboratories announced on Friday that it had entered into an agreement with JB Chemicals & Pharmaceuticals to acquire its pharmaceutical prescription portfolio in Russia and in other Commonwealth of Independent States (CIS) regions.
JB Chemicals & Pharmaceuticals Ltd. (JBCPL), known to many as Unique Pharmaceutical Laboratories, is an Indian pharmaceutical company that manufactures and markets a wide range of pharmaceutical formulations, herbal remedies, bulk drugs, intermediates, and radio-diagnostics.
The agreement involves the acquisition of 20 brands at US$34.85 million, and a supply agreement with JB Chemicals for the continued manufacturing and supply of the associated products.
Jocet, an important brand in the Rx portfolio, gives Dr. Reddy’s a much awaited entry into the US$256 million cold and cough market. Two other brands, Unispaz and Metrogyl gel & Metrogyl vaginal gel, are also significant additions to the company’s portfolio.
Commenting on the acquisition, Satish Reddy, Managing Director and COO, Dr. Reddy’s said:
“Russia is one of our leading markets where we enjoy a strong equity with stakeholders. This acquisition will help expand our prescription, hospital and OTC portfolio, complement our existing strong basket of products and add to our growth aspirations in the Russia & other CIS region.”
Dr. Reddy’s is the largest Indian pharmaceutical company in Russia and also the fastest growing international branded generic company by volume. The company entered the Russia market in 1992 and its top four brands are Omez®, Nise®, Ketorol®, and Ciprolet®.
Dr. Reddy’s FY11 revenues from Russia & other CIS markets were at Rs. 10.9 billion crore (US$244 million), representing a growth of 19 percent.
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Source: Dr. Reddy’s Laboratories Ltd.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.
