Dr. Reddy’s Laboratories (DRREDDY) has moved into the spotlight following its strategic entry into the Indian Hormone Replacement Therapy (HRT) market. On February 18, 2026, the pharmaceutical major finalized a definitive agreement to acquire the India trademarks for specialty brands Progynova and Cyclo-Progynova from the UK-based Mercury Pharma Group for USD 32.15 million. The deal highlights Dr. Reddy's aggressive expansion within the gynecology segment. Progynova, an estradiol valerate therapy, is currently ranked as the number one brand in the Indian estradiol market, recording annual sales of approximately INR 100 crore as of December 2025. Cyclo-Progynova complements this by offering a combined therapy for estrogen deficiency symptoms. This acquisition arrives as the Indian pharmaceutical market (IPM) shows resilient growth. The sector kicked off 2026 with a 10.2% value increase in January, driven largely by chronic and specialty therapies. While the broader market is projected to grow between 7.8% and 8.1% throughout 2026, lifestyle-driven segments such as hormonal treatments and oncology are expected to outpace general growth. Dr. Reddy's recent financial performance underscores this growth potential despite global headwinds. For the quarter ending December 2025, the company reported consolidated revenue of INR 8,727 crore, a 4.4% year-on-year increase. While higher R&D investments and operating costs led to a 15.3% dip in net profit to INR 1,190 crore, the India business remained a standout performer, growing by 19% to reach INR 1,603 crore. Market reaction to the stock has been mixed but generally positive regarding long-term domestic strategy. As of February 19, 2026, Dr. Reddy's shares are trading near INR 1,276.60, with various brokerages maintaining "Buy" ratings and price targets ranging up to INR 1,737. The stock has delivered a return of over 10% in the past month alone. Investors are closely monitoring the company's shift toward high-value specialty products. With the HRT market in India gaining momentum due to increased awareness and an aging population, the integration of these newly acquired brands is expected to provide a steady revenue stream and solidify the firm's position as a leader in women's healthcare.