Dr Reddys to sell Finast, Styptovit-E and 2 other brands to Torrent Pharma
As per the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of these brands in India.
Ahmedabad: Ahmedabad-based, Torrent Pharmaceuticals, has recently announced that the company has entered into an agreement with Dr. Reddy's Laboratories Ltd. to acquire four of its brands "Styptovit-E", "Finast", "Finast-T", and "Dynapress".
"Styptovit-E, a gynaecology product with an estimated market size of ~Rs. 500 crores (AIOCD data set), will further strengthen Torrent's presence in the therapy. The acquisition of "Finast", "Finast-T", and "Dynapress", which are used in the treatment of Benign Prostatic Hyperplasia (BPH), will aid in Torrent's presence in the Urology therapy.," the release stated.
As per the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of these brands in India. The complete integration and transition of the brands are expected to be completed by June 2022.
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Torrent Pharma, with annual revenue of more than Rs. 8,500 crores, is the company of the Torrent Group, with group revenue of more than Rs. 20,000 crores. It is a specialty-focused company with 74%+ of its revenue in India from chronic & sub- chronic therapies. The company has presence in 40 countries. Torrent has 7 manufacturing facilities, of which 4 are USFDA approved. With R&D as the backbone for its growth in domestic & overseas market, it has invested significantly in R&D capabilities with state-of-the-art R&D infrastructure employing approximately 750+ scientists.
Dr. Reddy's Laboratories Ltd. is an integrated pharmaceutical company headquartered in Hyderabad, Telangana, India. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology. Dr. Reddy's operates in markets across the globe. The company's major markets include - USA, India, Russia & CIS countries, and Europe.
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