News

Dr. Reddy’s Laboratories to buy branded generics business of Wockhardt

Hyderabad: Dr. Reddy’s Laboratories has acquire select divisions of Wockhardt’s branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs.1850 Crores, the company said.

The business comprises of a portfolio of 62 brands in multiple therapy areas such as Respiratory, Neurology, VMS, Dermatology, Gastroenterology, Pain and Vaccines, which would transfer to Dr. Reddy’s along with related sales and marketing teams; and the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees. The business undertaking is being transferred on a slump sale basis.

THIS CAN BE YOUR ADVERTISEMENT

G V Prasad, the Co-Chairman and Managing Director of Dr. Reddy’s said “India is an important market for us and this acquisition will help in considerably scaling-up our domestic business. The acquired portfolio shall enhance Dr. Reddy’s presence in the high growth therapy areas with market leading brands such as Practin, Zedex, Bro-zedex, Tryptomer and Biovac. We believe the portfolio holds a lot of potential and will get an impetus under Dr. Reddy’s. We welcome the team joining as part of the deal to the Dr. Reddy’s family.”

The transaction is expected to be closed in the first quarter of the financial year 2020-21.

 

Support us in our endeavor to bring you Advertisement free content.
Choose your options to donate or subscribe.

Tags

Related Articles

Leave a Reply

Back to top button
Close
Close