Full Press Release Details
| Corporate Relationship Department | National Stock Exchange of India Ltd. |
| BSE Limited | "Exchange Plaza" |
| Dalal Street, Fort | Bandra-Kurla Complex, Bandra (East), |
| Mumbai - 400 001 | Mumbai - 400 051 |
| Fax Nos.: 022-22723121 / 22723719 / | Fax Nos.: 022-26598120/ 26598237/ |
| 22722037 / 22722039 | 26598238 |
| Scrip Code: 500124 | Scrip Code: DRREDDY-EQ |
This is to inform you that Dr. Reddy's Laboratories
Limited ("Dr. Reddy's) has entered into an agreement with Novartis AG to acquire the 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 61M (United States Dollars
Sixty One Million only).
The Cidmus brand shall be affixed on the
pharmaceutical composition comprising a combination of Valsartan and 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 strong marketing and distribution network to maximise access to patients in
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. 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, and will take it closer to its ambition
of breaking into the top 10 cardiac players in the Indian pharmaceutical market. It will also strengthen the presence of Dr. Reddy's
in the chronic space in India as its India business continues to be a solid growth driver and focus market.
This is for your information.
For Dr. Reddy's Laboratories Limited
| /s/ K Randhir Singh | |
| K Randhir Singh | |
| Company Secretary and Compliance Officer |
CC:- New York Stock Exchange Inc. (Stock Code :RDY)