Dr Reddy's to sell Cipla drugs in Russia, Ukraine
Dr Reddy's Laboratories has entered into an agreement with Cipla for exclusive marketing rights of a portfolio of over-the-counter (OTC) and prescripttion products in the Russian and Ukrainian markets. As per the agreement, Dr Reddy's has initiated the sales and promotion of the portfolio of products from second quarter of this fiscal, in select therapy areas, in Russia. The launch in Ukraine is expected to take place during the next calendar year.
The company has also entered into an agreement with the UK-based Vitabiotics for a range of nutraceutical products for Russia and select CIS countries. The agreement provides Dr Reddy's exclusive marketing rights to two of Vitabiotics leading products- Jointace and Dietrim. Vitabiotics will supply these products on a long term basis from its facilities in Europe.
Dr Reddy's is the largest Indian pharmaceutical company in Russia and also the fastest growing international branded generic company by volume. The company entered the Russian market in 1992 and consolidated its position during the turbulent currency crisis of the late 1990s. Over 80% of the revenues is generated from the top four distributors.
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