14 February 2020 - - Indian drugmaker Dr. Reddy's Laboratories Ltd. (BSE: 500124) (NSE: DRREDDY) (NYSE: RDY) has entered into a definitive agreement with Wockhardt Ltd. to acquire select divisions of its 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.

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

Dr. Reddy's Laboratories is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives.

Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products Dr. Reddy's offers a portfolio of products and services including APIs, generics, biosimilars and differentiated formulations.

Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe. Its major markets include USA, India, Russia and CIS countries, and Europe.