Dr Reddy'S Laboratories has entered into an exclusive sales and distribution agreement with Novartis India (NIL) for the Voveran range, the calcium range and Methergine in India.
Under the arrangement, Dr. Reddy's will have exclusive rights to promote and distribute the well-established Voveran range, the Calcium range and Methergine in India.
The company will use its strengths in promotion and distribution to considerably expand its engagement with healthcare professionals with the aim of enabling access to patients in need.
M.V. Ramana, CEO - Branded Markets (India & Emerging Markets), said: We are delighted to enter into this arrangement with NIL to promote and distribute these well-established brands that are trusted by patients and healthcare professionals. Our India business has been a strong growth driver and remains a key focus market for us. This arrangement will strengthen our portfolio in the pain management and women's health areas.
Dr Reddy's Laboratories is an integrated pharmaceutical company. It offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
The drug maker reported a consolidated net profit of Rs 706.50 crore in Q3 December 2021, steeply higher than 19.80 crore in Q3 December 2020. On a consolidated basis, the company's revenue from operations rose 7.91% to Rs 5,319.70 crore in in Q3 December 2021 over Q3 December 2020.
The scrip fell 1.07% to end at Rs 4327.30 on the BSE on Friday.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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