Full Press Release Details
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ)
BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock
NSE IFSC Ltd (Stock Code: DRREDDY)
Subject: Press Release
Please find enclosed a Press Release on "Dr. Reddy's announces the acquisition of MenoLabs , a leading women's
health and dietary supplements portfolio of brands".
This is for your information and records.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR
| Press Release | |
| DR. REDDY'S LABORATORIES LTD. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500034. Telangana, India. | CONTACT |
| Investor relations | Media relationS |
| RICHA PERIWAL richaperiwal@drreddys.com | USHA IYER ushaiyer@drreddys.com |
Reddy's announces the acquisition of MenoLabs , a leading
women's health and dietary supplements portfolio of brands
Hyderabad, India, and Princeton,
NJ, U.S.; January 3, 2024 - 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 that it has acquired MenoLabs business,
a leading women's health and dietary supplement branded portfolio from Amyris, Inc. ("Amyris") in Amyris' Chapter
Dr. Reddy's acquired the entire
MenoLabs supplements portfolio which includes seven branded products designed to provide health support and address symptoms of perimenopause
and menopause. Brands include MenoFit and MenoGlow probiotics, Happy Fiber and Well Rested dietary supplements,
Athena's Shield menopause support supplement, and Goodness Glow and Keep Glowing Gorgeous supplements for
healthy aging support. The deal also includes the MenoLife health tracker app which supports the product line and provides community,
education, and information to consumers regarding menopause. MenoLabs portfolio of products is sold in the United States, primarily through
the brand's own [https://menolabs.com] and other e-commerce marketplaces including Amazon and Walmart.
"The MenoLabs acquisition will
serve as a catalyst to accelerate growth in this space and build upon our aspiration to lead in the fast-growing women's nutritional
and wellness markets," says Marc Kikuchi, Chief Executive Officer for Dr. Reddy's in North America. "The acquisition
complements Dr. Reddy's U.S. self-care and wellness business portfolio of brands and addresses unmet needs of consumers for science-based,
research-driven products that provide relief from the symptoms of menopause. For these and many other reasons, I believe we are well-positioned
to successfully integrate and grow the business."
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.
Disclaimer: This press release may
include statements of future expectations and other forward-looking statements that are based on the management's current views
and assumptions and involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context,
the words "may", "will", "should", "expects", "plans", "intends", "anticipates",
"believes", "estimates", "predicts", "potential", or "continue" and similar expressions
identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to
without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency exchange rates,
interest rates, persistency levels and frequency / severity of insured loss events, (ii) mortality and morbidity levels and trends, (iii)
changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks
and/or governments, (v) the
impact of acquisitions or reorganization, including related integration issues, and (vi) the susceptibility
of our industry and the markets addressed by our, and our customers', products and services to economic downturns as a result of
natural disasters, epidemics, pandemics or other widespread illness, including coronavirus (or COVID-19), and (vii) other risks and uncertainties
identified in our public filings 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, 2023. The company assumes
no obligation to update any information contained herein.