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
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.
The tablets are available in three strengths. As per IQVIA MAT, Cidmus saw sales of Rs. 136.4 cr in India for the most recent twelve months ending in February 2022.
Dr Reddy's will look to leverage its wide base to engage with healthcare professionals, and to significantly enhance the reach of the product in and beyond metros into tier-I and tier-II markets in India through its marketing and distribution network to maximise access to patients in need.
The acquisition of Cidmus is yet another move by Dr Reddy's in India to widen access of healthcare professionals and patients to well-established brands.
"Given the prevalence of cardiovascular diseases, this acquisition will allow Dr Reddy's to make a trusted portfolio of medicines available to patients in India in keeping with its purpose of Good Health Can't Wait," Dr Reddy's said in its recent release.
Cidmus will be a strong addition to the company's existing portfolio in the cardiovascular segment alongside its leading brands such as Stamlo, Stamlo Beta, Reclide-XR and Reclimet-XR.
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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.
