Dr Reddy's Lab Completes Acquisition of UCB's Select Brands
Drug firm Dr Reddy's Laboratories today said it has completed the acquisition of select portfolio of established brands of Belgian firm UCB in India.
"...with regard to acquisition of select portfolio of the established products business of UCB in India, Dr Reddy's Laboratories Ltd...has concluded the transaction," the company said in a filing to the BSE.
On April 1, the drug firm had said that it would acquire select portfolio of established brands of UCB in India, Nepal, Sri Lanka and Maldives for Rs 800 crore.
The company had entered into a definitive agreement with UCB which also entails absorbing 350 employees engaged in the operations of India business.
Dr Reddy's has said the acquired UCB portfolio would accelerate its presence in the high growth areas of dermatology, respiratory and pediatrics, with market leading brands such as Atarax, Nootropil, Zyrtec, Xyzal and Xyzal M.
Shares of Dr Reddy's Laboratories were trading at Rs 3,388.05 per scrip in the afternoon trade, up 0.41 per cent from the previous close on the BSE.
