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Glenmark to sell select brands to Dr Reddy’s

NEW DELHI: Glenmark Pharmaceuticals Ltd has agreed to sell some of its branded antiallergic drugs in Russia, Ukraine, Kazakhstan and Uzbekistan to Dr Reddy’s Laboratories for an undisclosed amount, two companies said in a statement on Saturday. Glenmark, based in Bombay, is divesting its Momat Rino brand in Russia, Kazakhstan and Uzbekistan, while selling Momat A in Kazakhstan and Uzbekistan. “In line with the strategy to launch our global anti-allergy brand Ryaltris in the markets of Russia and other CIS countries, we decided to divest the Momat Rino brand and its extension.

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