Glenmark Pharmaceuticals Ltd has agreed to divest some of its anti-allergy medicine brands in Russia, Ukraine, Kazakhstan, and Uzbekistan to Dr Reddy’s Laboratories Ltd for an undisclosed amount, the two companies said in a statement late on Saturday.
Mumbai-based Glenmark will divest its Momat Rino brand in Russia, Kazakhstan and Uzbekistan, while it will sell Momat A in Kazakhstan and Uzbekistan. The company will also sell Momat Rino Advance in Russia, and Glenspray and Glenspray Active in Ukraine. The deal includes rights to the trademarks, dossiers and patents for the respective countries, and is “subject to completion of certain precedent actions and closing activities,” Glenmark said in its statement.
The deal by the Glenn Saldanha-led drugmaker comes ahead of the launch of ‘Ryaltris’, the company’s new fixed‐dose combination nasal spray of an antihistamine and a steroid. Ryaltris is indicated for treatment of symptoms associated with allergic rhinitis and rhinoconjunctivitis.
“In line with our strategy to launch Ryaltris, our global anti-allergy brand, in the markets of Russia and other CIS countries, we decided to divest the Momat Rino brand and its extension. As we await approval to launch Ryaltris in the Russian market, we look forward to strengthening our respiratory franchise in the Russia/CIS region. We remain committed to the respiratory space globally,” Glenmark chief commercial officer Robert Crockart said in the statement.
For Dr Reddy’s, the deal will add to its presence in the anti-allergy segment in these countries.
“The new brands are a great addition to our product portfolio in Russia, Ukraine, Kazakhstan and Uzbekistan which are important core markets for us. Momat Rino, the largest brand acquired, has recently received OTC registration in Russia and this will enable accelerated access of this product to patients,” M V Ramana, Dr Reddy’s chief executive officer for branded markets (India and Emerging Markets), said.
Ryaltris is a novel fixed dose combination of olopatadine hydrochloride and mometasone furoate developed by Glenmark and is part of its respiratory pipeline. The divested portfolio represents two types of products, mometasone mono-product and a combination of mometasone with azelastine.
