India’s Dr Reddy's accelerates expansion in Russian market of gynecological drugs

The Russian subsidiary of the Indian pharmaceutical company Dr Reddy's Laboratories (BSE: 500124) received the rights to three gynecological drugs from the local drugmaker Vertex with the aim to significantly strengthen its presence in that segment of the market, reports The Pharma Letter’s local correspondent.

Under the terms of the deal, Vertex Pharmaceuticals (Nasdaq: VRTX) transferred the rights to three gynecological drugs to Dr Reddy's Russian subsidiary. The agreement involves that Vertex will continue to manufacture these drugs, but as a contract manufacturer, while Dr Reddy's will receive the rights to the drugs in Russia and the opportunity to expand into the CIS market. Financial details of the deal are not disclosed, however, according to calculations by Russian analysts, it could be in the range of 550-610 million roubles (~$7 million).