Dr. Reddy's enters into exclusive distribution partnership with Sanofi Healthcare India Pvt Ltd for their vaccine brands in India

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as "Dr. Reddy's"), a global pharmaceutical company, today announced that it has entered into an exclusive partnership with Sanofi Healthcare India Private Limited ("SHIPL") to promote and distribute their vaccine brands across private markets in India.

Under the arrangement, Dr. Reddy's will have exclusive rights to promote and distribute Sanofi's wellestablished and trusted paediatric and adult vaccine brands Hexaxim®, Pentaxim®, Tetraxim®, Menactra®, FluQuadri®, Adacel® and Avaxim® 80U. These brands saw combined sales of approx. INR 426 crores (approx. USD 51 million) as per IQVIA MAT February 2024. Sanofi will continue to own, manufacture, and import these brands to the country.

Preeti Futnani, General Manager India for Vaccines, Sanofi, said, "Vaccine confidence has reached its highest in India in the last few years. Yet, there is much to be done for the rest of the country's large unvaccinated cohort. To fulfil our long-term commitment to India and expand our geographic reach, we're pleased to partner with Dr. Reddy's Laboratories (Dr. Reddy's) for exclusive distribution and promotion. We're confident this partnership will further bolster our promise of saving millions of lives against vaccinespreventable diseases with improved vaccination coverage."

M.V. Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr. Reddy's, said: "We are happy to have the opportunity to leverage our strengths in promotion and distribution to considerably expand engagement with healthcare professionals and help widen access of Sanofi's well-established and trusted vaccine brands in India. We continue our efforts to become the partner of choice in bringing novel, innovative and trusted drugs to patients in India through strategic collaborations. The portfolio now gives Dr. Reddy's a strong presence in the vaccine segment, propelling us to the second position among vaccines players in India. Through each product and partnership, our aim is to serve over 1.5 billion patients by 2030."

Shares of Dr. Reddy's Laboratories Limited was last trading in BSE at Rs. 6047.60 as compared to the previous close of Rs. 6126.95. The total number of shares traded during the day was 3529 in over 747 trades.

The stock hit an intraday high of Rs. 6150.00 and intraday low of 6035.50. The net turnover during the day was Rs. 21523419.00.

Source : Equity Bulls

Keywords

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