Dr. Reddy’s (RDY) to Acquire Prescription Portfolio from JB Chemicals in Certain Regions
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Dr. Reddy’s Laboratories (NYSE: RDY) has entered into an agreement with JB Chemicals & Pharmaceuticals to acquire their pharmaceutical prescription portfolio in the Russia and other CIS regions.
he agreement involves acquisition of 20 brands, key ones being Metrogyl and Jocet, for a consideration of USD 34.85 million. Dr. Reddy’s has also entered into a supply agreement with JB Chemicals for the continued manufacturing and supply of these products associated with the acquired brands.
Financial terms were not disclosed, though JB's FY11 revenues from Russia & other CIS markets were at Rs.10.9 billion ($244 million) representing a growth of 19%.
he agreement involves acquisition of 20 brands, key ones being Metrogyl and Jocet, for a consideration of USD 34.85 million. Dr. Reddy’s has also entered into a supply agreement with JB Chemicals for the continued manufacturing and supply of these products associated with the acquired brands.
Financial terms were not disclosed, though JB's FY11 revenues from Russia & other CIS markets were at Rs.10.9 billion ($244 million) representing a growth of 19%.
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