Hyderabad, India and Princeton, NJ, USA Dr.Reddy’s Laboratories Ltd.(BSE: 500124, NSE:DRREDDY, NYSE: RDY) today announced the acquisition of an eminent portfolio of over the counter (OTC) brands in the cough and cold, pain, and dermatology categories. The company acquired six OTC brands from 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, ”explains Alok Sonig , Executive Vice President and Head of Dr.Reddy’s in the US. “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. Sonig commends the marketing and brand building efforts of Ducere Pharma, recognizing the organization’s role in s uccessfully revitalizing the brands through improved distribution and promotional efforts.
“We think Dr.Reddy’s is well positioned to continue the successful growth of these brands, ”says Samuel F.Hines of Casla Capital Management LLC.“We feel confid ent that our brand loyal consumers will be well served by the deal.”
