Dr Reddy's Labs Russian arm collaborate Novartis Pharma for anti-diabetes products

Published On 2024-05-29 12:19 GMT   |   Update On 2024-05-29 12:19 GMT
Advertisement

Hyderabad: Through a recent BSE filing, Dr Reddy's Laboratories has informed that Dr Reddy's Laboratories LLC, Russia, a step down wholly owned subsidiary of the Company has entered into a distribution agreement with Novartis Pharma LLC to sale and distribute the anti-diabetes products - Galvus and Galvus Met.

Galvus and Galvus Met are the leading brands among Dipeptidyl Peptidase-4 (DPP4) molecules having combined sales of approx. Rs 2530 million (approx. USD 30 million) as per IQVIA Moving Annual Total (MAT) March 2024, retail market, in Russia.

DRL LLC shall distribute the products in retail market and work with health care professionals using the own sales force team and pharmacy chains management.
It is a distribution deal with no license fee. There is no upfront or down-payment involved in this arrangement
Under this arrangement, Novartis Pharma LLC shall supply the products to DRL LLC at the agreed price and pay bonus to DRL LLC based on the KPIs achievements.

"DRL LLC is planning to enter into cardio and diabetes space. The Galvus and Galvus Met products will be the anchor products and will give synergy in cardio and diabetes DRL LLC portfolio. DRL LLC can potentially develop cooperation with Novartis Pharma LLC in future for cardio space," the filing stated.

Read also: Alvotech, Dr Reddy's collaborate for commercialization of AVT03 in US, Europe and UK

Established in 1984, Dr Reddy’s Laboratories Ltd. is a global pharmaceutical company headquartered in Hyderabad, India. Dr Reddys offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr Reddys major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe.

Tags:    

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News