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Dr. Reddy Could Acquire Dr. MomDr. Reddy's Laboratories, India's second-biggest drugmaker by revenue, is looking to acquire medicine brands in Russia, chief financial officer Umang Vohra said.
Russia, Dr. Reddy's third-biggest market, generated sales of $201 million in the year ended March 31, including prescription medicines and over-the-counter remedies. The company wants to increase sales from over-the-counter medications, which account for half of Russia's pharmaceutical market, Vohra said in Hyderabad, where the drugmaker is based.
Dr. Reddy's sells Senade laxative and Nise pain-relieving gel without a prescription in Russia. The manufacturer may buy Doktor Mom, a cough medicine brand in Russia, from Mumbai-based J.B. Chemicals & Pharmaceuticals, the Business Standard reported May 10, citing people it did not identify.
The expansion may involve "brand acquisitions and in-licensing," Vohra said.
Fiscal fourth-quarter net income doubled to 3.35 billion rupees ($74.6 million) from 1.67 billion rupees a year earlier, the company said Friday. Sales rose 23 percent to 20.2 billion rupees on growth in Russia and the United States.