The company however did not disclose financial details.
"The new brands are a great addition to our product portfolio in Russia,Ukraine, Kazakhstan and Uzbekistan which are important core markets for us. Momat Rino, the largest brand acquired, has recently received OTC registration in Russia and this will enable accelerated access of this product to patients," Dr. Reddy's Laboratories Branded Markets (India and Emerging Markets) CEO M V Ramana said.
The acquired products will further add to the company's strong presence in the anti-allergy segment in these countries, and will also enable it to offer a more comprehensive solution to patients in this area, he added.
In a separate statement, Glenmark Pharmaceuticals Chief Commercial Officer Robert Crockart said: In line with our strategy to launch Ryaltris, our global anti-allergy brand, in the markets of Russia and other CIS countries, we decided to divest the Momat Rino brand and its extension."
As the company awaits approval to launch Ryaltris in the Russian market, it looks forward to strengthen respiratory franchise in the Russia/CIS region, he added.
"We remain committed to the respiratory space globally," Crockart noted.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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