Dr. Reddy’s Laboratories Limited Acquires Progynova® Franchise for $32.15 Million, Enters HRT Segment

Hyderabad, February 18, 2026: Dr. Reddy’s Laboratories Limited has entered into a definitive agreement with Mercury Pharma Group Limited to acquire the trademarks Progynova® and Cyclo-Progynova®, along with related assets for India, for a consideration of USD 32.15 million, as per its regulatory filing. The acquisition marks Dr. Reddy’s strategic foray into the Hormone Replacement Therapy (HRT) segment in India. The company clarified that the transaction does not qualify as a related-party deal, and promoters have no interest in the seller entity. Progynova® (estradiol valerate) is indicated for treatment of estrogen deficiency symptoms and prevention of postmenopausal osteoporosis, while Cyclo-Progynova® is a combined HRT therapy. According to IQVIA MAT December 2025 data, Progynova® recorded sales of around ₹100 crore in India and holds the leading position in the estradiol represented pharmaceutical market. Management stated that the acquisition strengthens its gynecology portfolio and provides a strong entry platform into the HRT space, leveraging its established market access and physician network across India. This move reinforces Dr. Reddy’s strategy of expanding its branded portfolio in focused therapeutic segments within the domestic market. Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Please consult your financial advisor before making any investment decisions. Follow for more timely updates on markets, corporate actions, and strategic business developments.