JGL has signed two 5-year licensing cooperation agreements with the Indian pharmaceutical company Dr. Reddy's, which opertates on 25 global markets.
The agreements cover the licensing of products from the Aqua Maris and Meralys lines under a partner brand in the form of sprays and nasal drops.
"We are proud that Dr. Reddy's has recognized the quality and potential of our products from the Meralys and Aqua Maris lines for the Romanian market. We believe that this is the first step in cooperation with our new partner, who has been operating in Romania since 1995, generating an annual revenue of approximately EUR 19 million. This cooperation is fully in line with JGL's strategy of expanding the respiratory portfolio to new markets", said Dunja Suic Valković, MD, Director of Global Business Development at JGL.
The future development of JGL is based on the development and production of value-added products within the ENT and ophthalmological therapeutic areas and seawater-based products, along with a further internationalization of business. The launch of the licensed JGL line of products on the Romanian market is planned for the end of this year.
It is worth noting that Dr. Reddy's from India operates on 25 markets, has 10 research and development centres at 25 global production locations, and employs over 20,000 people.