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Dr. Reddy's Laboratories divests Cloderm (clocortolone pivalate) Cream, 0.1% franchise.

M2 EQUITYBITES-October 2, 2018-Dr. Reddy's Laboratories divests Cloderm (clocortolone pivalate) Cream, 0.1% franchise

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Pharmaceutical company Dr. Reddy's Laboratories Ltd (BSE: 500124)(NSE:DRREDDY) (NYSE:RDY) disclosed on Tuesday the sale its rights of Cloderm (clocortolone pivalate) Cream, 0.1% and its authorised generic version for an undisclosed amount.

Under the terms of the agreement, the company's wholly owned subsidiary Promius Pharma LLC has sold the rights of Cloderm (clocortolone pivalate) Cream, 0.1% and its authorised generic version to EPI Health LLC, an affiliate of EPI Group LLC.

Effective immediately, Promius Pharma is eligible to receive an upfront payment plus future royalties as the consideration for Cloderm Cream and its authorised generic in the US.

Headquartered in Charleston, South Carolina, EPI Group is a privately held company and its portfolio includes: Evening Post Publishing, which has 17 publications in the state of South Carolina including the 2015 Pulitzer Prize winning Post & Courier; Cordillera Communication, a network of 11 broadcast television stations covering 2.3 million households; Heart of Hospice, a provider of hospice care to over 1,100 patients; and Clear Night Group, a digital marketing agency based in Minnesota.

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Publication:M2 EquityBites (EQB)
Date:Oct 2, 2018
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