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