Shares of Dr. Reddy’s Laboratories surged 2% in the opening trading session of March 28, Thursday, after the company partnered with Sanofi India to distribute vaccine brands in India.
Dr. Reddy’s Laboratories Limited has entered into an exclusive distribution partnership with Sanofi Healthcare India to promote and distribute their vaccine brands across private markets in the country. The pact aims to expand the availability of Sanofi’s vaccine brands, both pediatric and adult, within private markets in India.
Under the terms of the agreement, DRL will have exclusive rights to promote and distribute Sanofi’s vaccine brands, including Hexaxim, Pentaxim, Tetraxim, Menactra, FluQuadri, Adacel, and Avaxim 80U.
As of 9:55 am, the shares were trading 2.28% higher at ₹6,182.00 on NSE.
Commenting on the pact, Preeti Futnani, General Manager India for Vaccines at Sanofi, said, “Vaccine confidence has reached its highest in India in the last few years. Yet, there is much to be done for the rest of the country’s large unvaccinated cohort. To expand our geographic reach, we’re pleased to partner with Dr. Reddy for exclusive distribution and promotion.”
