Dr Reddy’s gains on distribution tie-up with Sanofi Healthcare
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Dr Reddy’s Laboratories | A meeting of the board of directors of the company will be held on Tuesday, May 7, 2024, to consider and approve the audited standalone and consolidated financial results of the company.
Dr. Reddy’s Laboratories: The company has entered into an exclusive distribution partnership with Sanofi Healthcare India to promote and distribute Sanofi’s vaccine brands, including pediatric and adult vaccines, in India.
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Shares of Dr Reddy’s Laboratories traded in the green early on March 28 after the company entered into an exclusive partnership with Sanofi Healthcare India Private Limited (SHIPL).
At 9:30am, Dr Reddy’s Laboratories was quoting Rs 6,129.05, up Rs 81.45, or 1.35 percent, on the BSE.
“The company has entered into an exclusive partnership with Sanofi Healthcare India Private Limited (SHIPL) to promote and distribute Sanofi’s vaccine brands including well-established paediatric and adult vaccines in India,” the company said in its release.
Under the arrangement, Dr Reddy’s will have exclusive rights to promote and distribute Sanofi’s well-established and trusted paediatric and adult vaccine brands Hexaxim, Pentaxim, Tetraxim, Menactra, FluQuadri, Adacel and Avaxim 80U.
Sanofi will continue to own, manufacture, and import these brands to the country. “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,” said MV Ramana, chief executive officer for branded markets (India and emerging markets) at Dr Reddy’s.
“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,” he added.
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A meeting of the board of directors of the company will be held on Tuesday, May 7, 2024, to consider and approve the audited standalone and consolidated financial results of the company for the quarter and financial year ending on March 31, 2024, and to recommend dividend, if any, for the financial year 2023-24.
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