Binnopharm Group enters into agreement to acquire two anti-bacterial brands from Dr. Reddy’s in the Russia & CIS region

21.02.2022

  • Through its affiliate Joint Stock Company, Alium, Binnoharm Group will acquire the two anti-bacterial brands Ciprolet® and Levolet® in Russia, Belarus and Uzbekistan to strengthen its position in the antibiotic space


  • For Dr. Reddy’s, this divestment of brands from its non-core areas will allow the company to focus its resources and capabilities on its key therapy spaces of gastro-enterology, pain management, cold and flu, allergy, oncology, neurology, paediatrics and women’s health as the Russia and CIS region continues to be a strong performer for the company



The Sistema Group company (LSE: SSA, MOEX: AFKS), Binnopharm Group, one of the leading pharmaceutical production companies in Russia via its affiliate Joint Stock Company ‘Alium’, and Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as "Dr. Reddy's"), an integrated global pharmaceutical company, today announced the signing of a deal that will allow the Binnopharm Group to acquire antibacterial medicines under the Ciprolet® and Levolet® brands from Dr. Reddy’s in Russia, Uzbekistan and Belarus. The portfolio includes various dosage forms such as tablets, solution for infusions and eye drops.


Rustem Muratov, CEO of the Binnopharm Group said: “The acquisition of Ciprolet® and Levolet® is an important step to enhance our position in the antibiotics market, one of the key market segments for Binnopharm Group. According to analyst estimates, the market size for medicines containing ciprofloxacin in Russia is approximately RUB 1.9 bn in wholesale prices. Ciprolet® is a strong brand, the market leader, and will be a valuable complement to our portfolio of antibacterial products. We are also acquiring rights to Ciprolet® in Belarus and Uzbekistan in line with our strategic goal to strengthen presence in the international markets.”


M.V. Ramana, CEO – Branded Markets (India & Emerging Markets), said: “Our Russia and CIS markets continue to be strong performers for the company. This deal is a step towards divesting brands in non-core areas in order to consolidate and strengthen our play further in our key focus therapy areas of gastro-enterology, pain management, cold and flu, allergy, oncology, neurology, paediatrics and women’s health. This will help us accelerate access to affordable and innovative medicines in the region in these segments in keeping with our purpose of ‘Good Health Can’t Wait’.”


During the transition period, Dr. Reddy’s will continue to supply the product to Binnopharm Group to ensure availability in the market.

 

About Binnopharm Group:

Binnopharm Group was founded in 2020 through consolidation of pharmaceutical assets of Sistema PJSFC., Binnopharm Group is Russia’s largest producer of antibiotics and the No. 1 manufacturer of products intended for CIS exports, a Top 3 Russian pharmaceutical company (according to AlphaRM). The company has 5 production assets in different Russian regions. The assets manufacture a total of 200+ pharmacological groups in various dosage forms (from tablets and capsules to ointments, gels, suppositories, infusion solutions, etc.) and boast one of the largest portfolios among Russian manufacturers – 450+ marketing authorisations.


About Dr. Reddy's Laboratories:

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com