Novartis India Limited signs exclusive sales and distribution agreement with Dr. Reddy’s Laboratories

Latest corporate news update; Pharma

Novartis India Limited (NIL) today announced an exclusive sales and distribution agreement with Dr Reddy’s Laboratories (Dr Reddy’s) for a few of its Established Medicines which includes the Voveran range, the Calcium range and Methergine.

This arrangement aims to further broaden access to these medicines beyond the current geographies to benefit many more patients, more efficiently, by significantly extending the reach of healthcare professionals through an expanded field force.

This brings together the manufacturing and development synergies of NIL with the sales and distribution strengths of Dr Reddy’s.

Barring unforeseen circumstances, this has the potential to drive value for shareholders of NIL. Novartis AG will retain Trademark ownership of these medicines.

This strategic business decision is leading to the separation of approximately 400 employees of NIL due to role redundancies. We understand the implications of this difficult decision on those impacted and their loved ones and we are extending a severance package along with outplacement services.

Sanjay Murdeshwar, Country President and Managing Director, Novartis in India, said, “Today, on one hand, keeping the patient interest at the centre, we have entered this strategic business arrangement with Dr Reddy’s Laboratories to extend access to our Established Medicines to benefit more patients in India efficiently. On the other hand, we understand the implication on the roles of our colleagues in Novartis India Limited and are doing our best to support them.”

Both organisations will remain fully committed to patients and will continue to focus on providing an uninterrupted supply of medicine.

Tags : #Novartis #DrReddys #LatestPharmaNews

About the Author

Team Medicircle

Related Stories

Loading Please wait...

Trending Now

China ropes in more countries for its COVID-19 vaccine trialsSeptember 29, 2020
Antarctica is still free of Covid-19. Can it stay that way?September 29, 2020
Over 200 travellers from India barred from Dubai flight over invalid Covid-19 testsSeptember 29, 2020
Netherland focuses on more stricker rule to comabt COVID-19 September 29, 2020
WHO aims to provide 120 Million rapid Coronavirus tests for poorer statesSeptember 29, 2020
UN chief on 1 Million COVID-19 deathsSeptember 29, 2020
Bahrain reports 585 Covid-19 cases, 777 recoveriesSeptember 28, 2020
Bringing hepatitis C testing and treatment to underserved communities in MadridSeptember 28, 2020
Polish doctor recovers from severe COVID-19 through rehabilitationSeptember 28, 2020
WHO supports rehabilitation of COVID-19 and other patients in UkraineSeptember 28, 2020
WHO work with migrant camps in Greece September 28, 2020
US employers being sued for COVID-19 infection spread September 28, 2020
Global Coronavirus deaths cross 1 Million markSeptember 28, 2020
Highly effective antibodies identified, may lead to passive COVID-19 vaccineSeptember 26, 2020
Europe has a lot of work to do to prevent COVID-19 transmission :WHOSeptember 26, 2020
Two million Coronavirus deaths : WHO September 26, 2020
Johnson & Johnson COVID-19 vaccine produces strong results September 26, 2020
New York to permanently switch to outdoor dining amid pandemicSeptember 26, 2020
WHO gave blessing for Coronavirus vaccine emergency use programme: ChinaSeptember 26, 2020
US surpasses 7 Million Coronavirus casesSeptember 26, 2020