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.

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