Dr Reddy’s Acquires Rights to Cardiovascular Medicine Cidmus for Rs 456 Crores
An internationally renowned Indian pharmaceutical company, Dr. Reddy’s has agreed to source Cidmus from Novartis for a staggering price of Rs. 456 crores (US$61 million). Cidmus is a group of drugs primarily used to treat heart failure. It comes in the form of tablets.
The drug consists of a mixture of Valsartan and Sacubitril. Cidmus helps treat heart failure by thinning the blood, making it easier for the heart to pump blood around the body.
Dr. Reddy’s now has the brand and the rights to produce and sell Cidmus across the country.
According to official sources, Cidmus achieved a total sale worth Rs 136.4 crore in the past year. The drug is produced in three different dosages. Dr. Reddy being the only company licensed to sell the drug will truly establish his position at the top of the pharmaceutical industry in India.
Dr. Reddy has already established channels to mass produce and sell his drugs. With the purchase of Cidmus now, they can really maximize their reach across India, but especially in major cities like Mumbai and Bangalore where the demand for drugs is believed to be higher.
Purchasing the rights to Cidmus in India is a smart move as it now joins the company’s line of cardiovascular products which also includes Stamlo and Reclide – XR etc., say experts. Not only is this a smart move as it cements their position at the top, but also makes them one of India’s biggest players in the field of cardiovascular medicine.
Not only Dr. Reddy will seek to expand his client base now, but he will also seek to expand to various doctors across India and strike deals with various hospitals and clinics.
The move also bodes well for the country as a whole as India is the third largest producer of pharmaceuticals by volume. According to official reports, India exports a fifth of the world’s supply of generic drugs. Since the onset of Covid the government has been forced to impose closures and also had a huge problem of overcrowded hospitals which has led to people not receiving required treatment and many have died on the streets awaiting treatment . The pandemic has shown major flaws in India’s healthcare system and the government is revamping the system with full trust in pharmaceutical companies to mass-produce drugs. The acquisition of Dr. Reddy’s brings India closer to its goal.