Dr. Reddy's Laboratories said on 18 February that it had acquired the Indian trademarks and related assets of hormone replacement therapy brands Progynova and Cyclo-Progynova from Mercury Pharma Group for $32.15m.
Why Dr. Reddy's Laboratories Ltd is buying Progynova and Cyclo-Progynova India brands (Mercury Pharma Group)
The company said the acquisition strengthens its gynaecology portfolio in India and marks its entry into hormone replacement therapy, where it can use its existing market access to widen the brands' reach.
“The acquisition will serve as the spearhead of our expansion into the HRT segment, strengthening our existing gynaecology portfolio in India.”
Deal terms and financing
Dr. Reddy's told the exchanges it entered into a definitive agreement with Mercury Pharma Group Limited on 18 February, under which it acquired the trademarks and related assets. The seller is not a related party.
Regulatory approvals and timing
The company's filing said the assets had been acquired under the agreement signed on 18 February; no further approvals were disclosed.
Market context
Progynova (estradiol valerate) treats symptoms of oestrogen deficiency and helps prevent postmenopausal osteoporosis; Cyclo-Progynova combines estradiol valerate with norgestrel and is not currently marketed in India.
