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von 007spekulatius am 03.04.08 12:04:06... es
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Dr Reddy's buys Italian generics firm
BS Reporter in Hyderabad
April 04, 2008 13:09 IST
Hyderabad-based pharma company Dr Reddy's Laboratories (DRL) has
acquired Jet Generici Srl, a company engaged in the sale of generic
finished dosages in Italy. Financial terms and conditions of
the transaction were not disclosed.
The deal has been completed through Dr Reddy's Italian subsidiary,
Reddy Pharma Italia, which has been engaged in building a pipeline
of registrations since its incorporation.
The acquisition provides access to an essential product portfolio,
a pipeline of registration applications and a sales and marketing
organisation. According to a DRL spokesperson, the Italian company
posted a turnover of Euro1.5 million in 2007.
This is DRL's second major acquisition in the past few days. On
Tuesday, the company announced that it had signed an agreement to
acquire Dowpharma's small molecules business in Mirfield and
Cambridge in the UK.
"The acquisition has been well timed since Dr Reddy's will be able
to immediately supplement the Jet Generici portfolio via its own
pipeline. We already have registration for one significant Dr
Reddy's product, and a strong pipeline of registration
applications. We believe that this strategic investment will
generate substantial opportunities for long-term value creation in
one of the fastest growing generic markets across the world," told
V S Vasudevan, DRL's president and head, Europe operations, in a
press release.
DRL's shares were up by Rs 16.55 to close at Rs 619.55 on the
Bombay Stock Exchange on Thursday.
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