Hyderabad, Apr 2 (GCBusiness) Dr Reddy’s Laboratories Limited, through its wholly-owned subsidiary Promius Pharma, LLC, on Tuesday announced the sale of its rights for Sernivo (betamethasone dipropionate) Spray 0.05 per cent and assignment of its rights to market and distribute, Promised Topical Cream and Trianex 0.05 per cent (Triamcinolone Acetonide Ointment, USP) to Encore Dermatology in United States of America.
Under the terms of the agreement, Promius Pharma is eligible to receive an upfront payment and future milestone payments contingent upon achievement of certain commercial objectives, a company statement here said.
Dr Reddy’s Co-Chairman and CEO G V Prasad said “This is in line with our renewed strategy to enable us achieve self-sustainability and profitable growth for each of our businesses.”
“We are confident in Encore’s ability to realize the full potential of the enlisted products. We look forward to working with Encore to ensure a smooth transition of these brands and to ensure they are able to quickly deliver these products to providers and patients.” said Anil Namboodiripad, Senior Vice President, Proprietary Products, and President, Promius Pharma.