Dr. Red­dy’s di­vests $33M worth of der­ma­tol­ogy brands in In­dia

The gener­ic drug­mak­er Dr. Red­dy’s Lab­o­ra­to­ries will be di­vest­ing sev­er­al of its der­ma­tol­ogy brands in re­turn for about $33 mil­lion.

Ac­cord­ing to a re­lease sent to the Na­tion­al Stock Ex­change of In­dia on Thurs­day, the agree­ment will see In­di­an phar­ma com­pa­ny Eris Life­sciences net the trade­mark for these brands, which Dr. Red­dy’s iden­ti­fied as “non-core brands.” Dr. Red­dy’s will be pick­ing up Rs 275 crore, or around $33.2 mil­lion. The brands had sales last year of around Rs 60 crore, or $7.2 mil­lion, ac­cord­ing to the re­lease.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER