Dr Reddy's Labs, Novartis ink pact for cardiovascular brand Cidmus
Under the agreement, Dr Reddy's will be assigned and transferred the Cidmus trademark in India from Novartis AG for a consideration of USD 61 Million
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New Delhi: Pharma major, Dr Reddy's Laboratories Limited, has recently announced that the company has entered into an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India.
Under the agreement, Dr Reddy's will be assigned and transferred the Cidmus trademark in India from Novartis AG for a consideration of USD 61M (United States Dollars Sixty One Million only). The Cidmus brand shall be affixed on the pharmaceutical composition comprising a combination of Valsartanand Sacubitril (currently under Novartis patent) which is indicated for heart failure patients with reduced ejection fraction.
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