Dr Reddy's Laboratories (DRL) has announced a licensing and distribution agreement with Cosmederm Technologies (CT), a US-based specialty pharmaceutical company focused on dermatology and aesthetic medicine.
The agreement grants DRL's exclusive rights to distribute CT's unique skin care products throughout India. The market size for aesthetic dermatology segment is about Rs 100 crore and growing at the rate of more that 50 per cent.
Jaspal Singh Bajwa, president – branded formulation group of DRL, said, "Cosmederm's proprietary technology is exceptional in its ability to allow the formulation of highly effective skin care products. We are very excited to offer these unique products throughout the Indian market and expect the lines to quickly become leaders in the area of chemical peels and anti-aging."
Sean Edwards – president, CT, said, "The opportunity to work with Dr Reddy's and introduce our products to the Indian consumers is a great milestone for CT. DRL is a global brand and a very valuable partner for us."
CT proprietary technology allows for the formulation of highly potent, non-irritating skin care products in the areas of anti-aging, acne, pruritus, rosacea and others. The partnership is for two product line viz., Refinity peel kits (Glycolic acid 70 per cent) and CT peel kits (Glycolic acid 50 per cent). Through this partnership DRL's enters the aesthetic dermatology segment and consolidated its position in cosmeceuticals.
Glycolic acid in higher concentrations is known to cause epidermal peeling which improves the skin tone, color and glow. It is indicated in pigmentation disorders as well as skin wrinkles. Other brands of DRL's in the dermatology segment are Mintop, Venusia, Niltan, Clearz and Antoxid-HC. CT's product lines include TriCaim, Refinity, Skin Solutions and Cosmederm Skin Science.