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Last Updated : Apr 02, 2019 11:34 AM IST | Source: Moneycontrol.com

Dr Reddy's sells specialty derma brands in US to Encore Dermatology

Sernivo Spray, Promiseb topical Cream and Trainex are the brands sold to US-based Encore Dermatology.

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Drug maker Dr Reddy’s on April 2 said that its wholly owned subsidiary Promius Pharma entered into an agreement with Encore Dermatology to sell rights to distribute and market three of its specialty derma brands in US.

The company did not disclose the financial details of the transaction.

Sernivo Spray, Promiseb topical Cream and Trainex are the brands sold to US-based Encore Dermatology.

Under the terms of the agreement, Promius Pharma is eligible to receive an upfront payment and future milestone payments contingent upon achievement of certain commercial objectives.

“This is in line with our renewed strategy to enable us achieve self-sustainability and profitable growth for each of our businesses,” said GV Prasad, Co-Chairman and CEO, Dr. Reddy’s.

Shares of Dr Reddy's dropped 0.06 percent and were trading at Rs 2,789.50 on BSE at 10.56 am, while the benchmark Sensex gained 0.12 percent and was trading at 38,896.69 points.

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First Published on Apr 2, 2019 11:34 am
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