Dr Reddy’s Laboratories Ltd. on Wednesday announced that it has significantly reduced the price of its cardiovascular drug Cidmus which has a market share of 32 percent.
Cidmus is a pharmaceutical composition containing a combination of sacubitril and valsartan. The drug is used for heart failure patients with reduced ejection fraction.
Following the price cut, Cidmus will be priced at Rs 29 for 50 mg, Rs 49 for 100 mg, and Rs 79 for 200 mg per tablet.
The company said that the active pharmaceutical ingredient (API) and the finished drug will be manufactured in-house. Dr Reddy’s Cidmus has a co-crystal formulation that enhances the bioavailability, solubility, and physical and chemical properties of the drug.
Driven by the company’s strong marketing and distribution network, Cidmus has reached over 1 lakh patients in India.
In April last year, Dr Reddy's Laboratories entered into an agreement with Novartis AG to acquire the cardiovascular medicine brand Cidmus in India for $61 million.
Under the agreement, Dr Reddy's was assigned and transferred the Cidmus trademark in India from Novartis AG.
Cidmus had sales of Rs 136.4 crore in India for the 12 months that ended in February 2022.
Earlier this month, Dr Reddy’s announced that it acquired the trademark rights of the breast cancer drug PRIMCYV from Pfizer Products India for use in the Indian market.
Following the trademark rights acquisition, Dr Reddy’s will manufacture the API and finished drug at its facilities approved by the United States Food and Drug Administration (USFDA).
Shares of Dr Reddy's are trading 0.44 percent lower at Rs 4,345.
