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news.Dr Reddy’s Laboratories has entered into agreements with Cipla and UK based Vitabiotics for exclusive marketing rights of OTC, prescription and nutraceutical products in the Russian, Ukraine and select Commonwealth of Independent States (CIS) markets.
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As per the agreement with Cipla, Dr Reddy’s has initiated the sales and promotion of the portfolio of products from Q2 FY11 in select therapy areas in Russia and the launch in Ukraine is set to take place next calendar year.
The agreement with Vitabiotics provides Dr Reddy’s exclusive marketing rights to Jointace and Dietrim. Further, Vitabiotics is expected to supply these products on a long term basis from its facilities in Europe.
Dr Reddy’s managing director and COO Satish Reddy said that the agreements give access to a good number of Rx products and OTC brands with existing sales that would immediately add to their revenues from the Russian and CIS market.
"We see long term synergies as Dr Reddy’s has sales and marketing network and our partners have products already registered & distributed in these markets," Reddy said.
Dr Reddy’s Russia & CIS region head MV Ramana said that the agreement with Cipla would enhance Dr Reddy’s presence in the OTC space and in therapy areas of gastroenterology, dermatology & oncology in both Russia & Ukraine.
"Besides this we will also be promoting Cipla’s existing respiratory care range in Ukraine," Ramana said.
"The Jointace range will complement Dr Reddy’s product offering in pain management and will help increase our presence in the nutraceutical space while Dietrim will mark our entry into the weight management area."