Pharmaceutical company Dr. Reddy's Laboratories Ltd (BSE:500124) (NSE:DRREDDY (NYSE:RDY) Wednesday announced its plan to acquire select divisions of the branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives from Wockhardt .
Under a slump sale basis, Dr. Reddy's will acquire the select Indian business divisions of Wockhardt for a purchase price of INR18.5bn.
Dr. Reddy's acquired business comprises of a portfolio of 62 brands in multiple therapy areas such as Respiratory, Neurology, VMS, Dermatology, Gastroenterology, Pain and Vaccines, along with related sales and marketing teams as well as the the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees.
This transaction is expected to be closed in the first quarter of the financial year 2020-21.
(USD1=INR71.3148)
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