Dr. Reddy’s Laboratories ($RDY) has acquired a portfolio of 6 over-the-counter (OTC) brands in the cough-and-cold, pain, and dermatology categories as it looks to add a new string to its growing bow of offerings.
The Indian generic, pharma and manufacturing company has acquired six OTC brands from NJ-based Ducere Pharma, including Doan’s, Bufferin, Nupercainal Ointment, Cruex Nail Gel, Comtrex, and Myoflex.
“These legacy products enjoy strong brand equity built over several decades,” explained Alok Sonig, EVP and head of Dr. Reddy’s in the U.S. “We are extremely excited to be entering the branded consumer health arena through these brands and embarking upon the next avenue of growth for our OTC business in the US.”
According to Sonig, Dr. Reddy’s will build upon the sales and marketing efforts for these brands and continue to focus on their expansion into existing and new market channels.
“We think Dr. Reddy’s is well-positioned to continue the successful growth of these brands,” says Samuel Hines of Casla Capital Management. “We feel confident that our brand-loyal consumers will be well-served by the deal.”
The deal will help shift Dr. Reddy’s business more deeply and more diversely into the U.S. and builds upon its growing portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
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