Heart drugs in demand, check details
Dr Reddy's Laboratories and JB Chemicals are shelling out around Rs 700 crore to buy a cardiac brand each from Novartis AG. Ekta Batra explains the rapidly growing cardiology market in India.
In an interesting development, two Indian pharma companies are shelling out around Rs 700 crore or over $90 million collectively to buy a cardiac brand each from global pharma company Novartis AG for the Indian market.
Dr Reddy’s Laboratories (DRL) is paying Novartis AG $61 million or over Rs 450 crore for a cardiac brand Cidmus while JB Chemicals is shelling out a little over $30 million or Rs 246 crore for another cardiac brand Azmarda.
Both brands are oral prescription medications used to treat heart failure.
Also Read:
The reason both companies are buying these brands is to tap into the fast-growing non-communicable disease market in India and within that the even faster-growing cardiac segment. Cardiovascular disease is a non-communicable disease or NCD, which basically means that the disease cannot be transmitted from one person to another.
Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.
Catch all stock market updates here
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | Will Amethi and Rae Bareli see the rise of Priyanka Gandhi as a dominant political figure
May 18, 2024 8:59 AM
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM