M&A

M&A

Dr Reddy's buys Novartis cardiovascular brand Cidmus in India for Rs.456-Cr

Economic Times  

Dr. Reddy's has entered into an agreement with Novartis to acquire the cardiovascular brand Cidmus in India for INR 456 crore (USD 61 million). Dr. Reddy's will be assigned and transferred the Cidmus trademark in India from Novartis. The Cidmus brand shall be affixed on the pharmaceutical composition comprising a combination of Valsartan and Sacubitril (currently under Novartis patent) which is indicated for heart failure patients with reduced ejection fraction. Cidmus is reported to have sold for INR 136.4 crore in India for the most recent twelve months ending in February 2022.