Indian Pharma major, Dr Reddy’s Laboratories, has entered into an agreement with Cipla, an Indian pharmaceutical company, to exclusively market some of its products in the over-the-counter and prescription segment in Russia and Ukraine. The agreement allows the Hyderabad-based company to initiate sales and promotion of the products in select therapy areas in Russia next year onwards. Dr Reddy’s has also entered into an agreement with the UK-based Vitabiotics, a global nutraceutical company that specialises in vitamin and mineral based formulations focused in various health categories, to exclusively market two of its leading products – Jointace and Dietrim. Vitabiotics will supply these products on a long-term basis from its facilities in Europe. “The agreements give us an access to a good number of prescription products and OTC brands with existing sales that would immediately add to our revenues from the Russian and CIS markets,” says K Satish Reddy, Managing Director and COO, Dr Reddy’s. Further says, M.V. Ramana, Head of Russia and CIS region, Dr Reddy’s, “The agreement with Cipla will enhance Dr Reddy’s presence in the OTC space and in therapy areas of gastroenterology, dermatology and oncology in Russia and Ukraine. Besides this, we will also be promoting Cipla’s existing respiratory care range in Ukraine.”
Posted on: 27.10.2010
Source: www.thehindubusinessline.com
