Dr Reddy’s Laboratories Ltd, through its wholly owned subsidiary Promius Pharma, LLC, has sold its rights for Sernivo (betamethasone dipropionate) Spray and assignment of its rights to market and distribute Promiseb Topical cream and Trianex (Triamcinolone Acetonide Ointment, USP) in the United States to Encore Dermatology.
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. “This is in line with our renewed strategy to enable us achieve self-sustainability and profitable growth for each of our businesses,” said G.V. Prasad, Co-Chairman and CEO, Dr. Reddy’s in a release issued here today.