Based in UK, the Mercury Pharma Group is a specialty pharmaceutical company.

Progynova (estradiol valerate) is an oral hormone replacement therapy indicated for the treatment of estrogen deficiency symptoms and for the prevention of postmenopausal osteoporosis.

Cyclo Progynova (estradiol valerate and norgestrel) is a combined hormone replacement therapy indicated for the treatment of estrogen deficiency symptoms, providing both estrogen and progestogen components.

As per IQVIA MAT December 2025, the Progynova brand had recorded sales of Rs 100 crore.

The company stated that this acquisition would strengthen Dr. Reddy’s gynaecology portfolio and mark its strategic entry into the hormone replacement therapy segment.

The total cost of this acquisition of $32.15 million, which at the prevailing exchange rate of Rs 91.09 per dollar, translates to Rs 292.85 crore.

M.V. Ramana, chief executive officer, branded markets (India and Emerging Markets), Dr. Reddy’s, said: 'The acquisition will serve as the spearhead of our expansion into the HRT segment, strengthening our existing gynaecology portfolio in India.

With our established market access, we are uniquely positioned to extend the reach of the acquired assets and deliver greater impact.'

Hyderabad-based Dr. Reddy’s Laboratories is a global pharmaceutical company. It offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC.

The company had reported a 14.4% decline in consolidated net profit to Rs 1,209.8 crore despite of 4.4% jump in revenue to Rs 8,716.8 crore in Q3 FY26 over Q3 FY25.

The scrip rose 0.21% to currently trade at Rs 1283.55 on the BSE.