Full Press Release Details
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
Please find enclosed a Press Release on "Dr.
Reddy's divests certain non-core brands in dermatology in India to Eris Lifesciences to focus on strengthening core."
This is for your information.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR
CC:- New York Stock Exchange Inc.(Stock Code :RDY)
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| DR. REDDY'S LABORATORIES LTD. | Investor relationS | Media relationS | |
| 8-2-337, Road No. 3, Banjara Hills, | RICHA PERIWAL | USHA IYER | |
| Hyderabad - 500034. Telangana, India. | RICHAPERIWAL@DRREDDYS.COM | ushaiyer@drreddys.com |
Dr. Reddy's divests certain non-core brands
in dermatology in India to Eris Lifesciences to focus on strengthening core
Hyderabad India; March 16, 2023 - Dr.
Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as
"Dr. Reddy's"), today announced the signing of a deal to divest certain non-core brands of the company in the dermatology segments
to Eris Lifesciences Limited (BSE: 540596, NSE: ERIS).
Under the agreement, Eris Lifesciences will be assigned
the trademark of these brands by Dr. Reddy's for a consideration of Rs. 275 cr. As per IQVIA MAT December 2022, the divested portfolio
saw sales of Rs. 60 cr in India.
M.V. Ramana, CEO - Branded Markets (India
& Emerging Markets), said: "India is a focus market for us. We aspire to break into the top 5 in India. Today's
announcement is in line with our stated intention of pursuing a strategy that involves growing brands organically combined with acquisitions
that are a strategic fit and divestment of non-core brands. This deal is a further step towards consolidating our core and helping us
deliver focused play in India in keeping with our purpose of Good Health Can't Wait'."
About Dr. Reddy's: Dr. Reddy's
Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is a global pharmaceutical company headquartered in Hyderabad,
India. Established in 1984, we are committed to providing access to affordable and innovative medicines. Driven by our purpose of Good
Health Can't Wait', we offer a portfolio of products and services including APIs, generics, branded generics, biosimilars
and OTC. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology.
Our major markets include - USA, India, Russia & CIS countries, China, Brazil and Europe. As a company with a history of deep
science that has led to several industry firsts, we continue to plan ahead and invest in businesses of the future. As an early adopter
of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high
in environmental stewardship; access and affordability for patients; diversity; and governance. For more information, log on to: www.drreddys.com.
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with the Securities and Exchange Commission, including those listed under the "Risk Factors" and "Forward-Looking Statements"
sections of our Annual Report on Form 20-F for the year ended March 31, 2022. The company assumes no obligation to update any information