Dr Reddy’s to buy Novartis’s cardio drug Cidmus for Rs 463 crore

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Indian generic drug maker Dr Reddy’s Laboratories has agreed to acquire the cardiovascular brand Cidmus from global pharmaceutical giant Novartis AG for $61 million (approximately Rs 463 crore).

This comes weeks after Dr Reddy’s inking an exclusive sales and distribution agreement with the Switzerland-based global healthcare giant to buy the latter’s established medicines that included the Voveran range, the Calcium range, and Methergine.

Under the latest agreement, Dr Reddy’s will be assigned and transferred the Cidmus trademark in India from Novartis AG. Cidmus saw sales of Rs 136.4 crore in India for the most recent twelve months ending February 2022.

In a statement on April 1, Dr Reddy’s said 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.

The Hyderabad headquartered drugmaker said it will look to leverage its wide base to engage with healthcare professionals and to significantly enhance the reach of the product in and beyond metros into tier-I and tier-II markets in India through its strong marketing and distribution network to maximise access to patients in India.

Dr Reddy’s said given the prevalence of cardiovascular diseases, this acquisition will allow it to make a trusted portfolio of medicines available to patients in India and that Cidmus will be a strong addition to its existing portfolio in the cardiovascular segment alongside its leading brands such as Stamlo, Stamlo Beta, Reclide-XR and Reclimet-XR.

Further, Dr Reddy’s said the acquisition of Cidmus from Novartis AG will take it closer to its ambition of breaking into the top 10 cardiac players in the Indian pharmaceutical market and strengthen its presence in the chronic space in India.