The Pharmaceuticals company has acquired the entire MenoLabs supplements portfolio which includes seven branded products designed to provide health support and address symptoms of perimenopause and menopause.
Brands include MenoFit and MenoGlow probiotics, Happy Fiber and Well Rested dietary supplements, Athena’s Shield menopause support supplement, and Goodness Glow and Keep Glowing Gorgeous supplements for healthy aging support.
The deal also includes the MenoLife health tracker app which supports the product line and provides community, education, and information to consumers regarding menopause. MenoLabs portfolio of products is sold in the United States, primarily through the brand’s website and other e-commerce marketplaces including Amazon and Walmart.
Marc Kikuchi, chief executive officer for Dr. Reddy’s in North America, said, “The MenoLabs acquisition will serve as a catalyst to accelerate growth in this space and build upon our aspiration to lead in the fast-growing women’s nutritional and wellness markets.
The acquisition complements Dr. Reddy’s U.S. selfcare and wellness business portfolio of brands and addresses unmet needs of consumers for sciencebased, research-driven products that provide relief from the symptoms of menopause. For these and many other reasons, I believe we are well-positioned to successfully integrate and grow the business.”
Dr. Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The drug major's consolidated net profit increased 33% to Rs 1,480 crore on 9.11% rise in revenues to Rs 6,880.2 crore in Q2 FY24 over Q2 FY23.
The scrip rose 0.01% to Rs 5,925.50 on the BSE.