Dr Reddy’s Lab Announces Acquisition, Enters Hormone Replacement Therapy Segment
On February 18th, pharmaceutical company Dr Reddy’s Laboratories Ltd announced the acquisition of the Progynova and CycloProgynova brands, including their associated assets, from Mercury Pharma Group Ltd for $32.1 million. The company clarified that the deal is entirely domestic and does not involve any related party transactions, as Mercury Pharma Group has no connection to Dr Reddy’s or its promoter group.
What is the Deal Highlights?
Under this agreement, Dr Reddy’s has acquired the brand rights for these specialty drugs in India. This will strengthen the company’s gynecology portfolio and mark its first entry into the Hormone Replacement Therapy (HRT) segment. Progynova is used to treat estrogen deficiency-related problems and prevent postmenopausal osteoporosis. CycloProgynova provides combined estrogen and progestogen therapy.
According to the company, Progynova is the number one brand in the estradiol-based drug market in India. According to IQVIA’s MAT December 2025 data, the brand has annual sales of approximately ₹1 billion. This acquisition is expected to further strengthen Dr Reddy’s presence in premium gynecology therapy in India. MV Ramana, CEO, Branded Markets (India and Emerging Markets), Dr Reddy’s, said that this acquisition will mark the company’s expansion into the HRT segment and demonstrates its commitment to providing advanced treatments to patients.
