Thursday, May 26, 2016
Drug major Dr Reddy's Laboratories has forayed into branded consumer health products segment in the US market by acquiring six over-the-counter (OTC) brands from Ducere Pharma for an undisclosed amount.
The brands acquired include Doan's, Bufferin, Nupercainal ointment, Cruex nail gel, comtrex and myoflex. These are mainly used in treating cough-and-cold, pain and dermatology issues.
"We are extremely excited to be entering the branded consumer health arena through these brands and embarking upon the next avenue of growth for our OTC business in the US," Executive Vice-President and Head of Dr Reddy's in the US Alok Sonig said.
These legacy products enjoy strong brand equity built over several decades, he added.
Dr Reddy's will build upon the sales and marketing efforts for these brands and continue to focus on their expansion into existing and new market channels, Sonig said.
Dr Reddy's shares today ended 0.92 per cent higher at Rs 3,052.95 apiece on BSE.
Source : economictimes.indiatimes.com
