Given the prevalence of cardiovascular disease, this acquisition will allow Dr. Enable Reddy’s to provide patients with a trusted portfolio of medicines
Given the prevalence of cardiovascular disease, this acquisition will allow Dr. Enable Reddy’s to provide patients with a trusted portfolio of medicines
dr Reddy’s Laboratories has reached an agreement with pharmaceutical giant Novartis AG to acquire cardiovascular brand Cidmus in India for US$61 million.
Under the terms of the agreement, the Cidmus brand in India will be assigned and transferred by Novartis AG. Cidmus sales in the country totaled around £136.4 million in the trailing 12 months to February 2022, said Dr. Reddy’s on April 1, citing IQVIA MAT numbers.
The Cidmus trademark will be applied to the pharmaceutical composition comprising a combination of valsartan and sacubitril (currently under Novartis patent) indicated for patients with heart failure with reduced ejection fraction. The tablets are available in three strengths, the company said.
dr Reddy’s said it would seek to leverage its broad base to significantly increase the product’s reach in and outside of major cities in Tier I and Tier II markets in India.
Given the prevalence of cardiovascular disease, this acquisition will allow Dr. Enable Reddy’s to provide patients with a trusted portfolio of medicines. Cidmus will greatly complement its existing portfolio in the cardiovascular segment alongside brands such as Stamlo, Stamlo Beta, Reclide-XR and Reclimet-XR.
The acquisition would bring the company closer to its goal of becoming one of the top 10 heart players in the Indian pharmaceutical market. It would also strengthen the company’s presence in the country’s chronic space, said Dr. Reddy’s.
The agreement follows an exclusive sales and distribution agreement announced in February, under which Dr. Reddy’s will promote and distribute selected Novartis products including the Voveran range, the Calcium range and Methergine in India.
