Drug firm Dr Reddy’s Laboratories Ltd on Wednesday (February 18) announced the acquisition of the trademarks Progynova and CycloProgynova and related assets in India from Mercury Pharma Group Ltd.
The deal was executed for $32.15 million. The acquisition is domestic and does not involve any related party transactions, as Mercury Pharma Group is not connected to Dr Reddy’s or its promoter/promoter group companies.
Under the agreement, Dr Reddy’s has obtained the rights to these specialty brands for India, strengthening its gynaecology portfolio and marking its entry into the hormone replacement therapy (HRT) segment.
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Progynova (estradiol valerate) is indicated for treating oestrogen deficiency symptoms and preventing postmenopausal osteoporosis, while CycloProgynova (estradiol valerate and norgestrel) provides combined oestrogen and progestogen therapy for oestrogen deficiency.
Progynova is the No. 1 brand in the estradiol represented pharmaceutical market in India, with strong physician equity and brand recall. According to IQVIA MAT December 2025 data, the brand recorded sales of ₹100 crore. The acquisition is expected to strengthen Dr Reddy’s presence in premium gynaecology therapies in India.
MV Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr Reddy’s, said: “The acquisition will serve as the spearhead of our expansion into the HRT segment, strengthening our existing gynaecology portfolio in India. This acquisition brings a first-in-class treatment closer to patients, underscoring our commitment to innovation and patient care at the centre of everything we do.”
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Shares of Dr Reddy’s Laboratories Ltd ended at ₹1,283, down by ₹2, or 0.16%, on the BSE today, February 18.
