Dr. Reddy’s Laboratories today announced that it has entered into a
definitive agreement to acquire a select portfolio of the established
products business of UCB, in the territories of India, Nepal, Sri Lanka
and Maldives. The acquired business is being sold on a slump sale basis.
The transaction includes approximately 350 employees engaged in
operations of the India Business. The revenues of the acquired business
is approximately INR 150 Crores for calendar year 2014.
The acquisition of UCB’s existing brand equity in the areas of
Dermatology, Respiratory and Pediatrics diseases will further expand Dr.
Reddy’s therapy footprint into these fast growing areas.
Alok Sonig, Senior Vice President and India Business Head, said: “The
acquired UCB portfolio shall accelerate Dr. Reddy’s presence in the high
growth areas of Dermatology, Respiratory and Pediatrics with market
leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M, etc. We
welcome UCB’s employees to our growing global team.”
Mark McDade, UCB’s Chief Operating Officer, said: “UCB is in a strong
position with a solid platform for continuous growth thanks to our core
products and our promising pipeline. This position allows us to enhance
our focus on our key neurology portfolio in India, providing innovative
solutions to patients living with severe diseases.” He also explains,
“Finding the right company for our established brands in India was
crucial, and Dr. Reddy’s knowledge of the local market, combined with
their ambitious plans and excellent reputation, convinced us they were
the right choice to drive this business forward.”
The transaction is expected to be closed in the first quarter of the
financial year 2015-16.
About UCB: UCB, Brussels, Belgium (www.ucb.com)
is a global biopharmaceutical company focused on the discovery and
development of innovative medicines and solutions to transform the lives
of people living with severe diseases of the immune system or of the
central nervous system. With more than 8500 people in approximately 40
countries, the company generated revenue of € 3.3 billion in 2014. UCB
is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter:
@UCB_news
About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is
an integrated pharmaceutical company, committed to providing affordable
and innovative medicines for healthier lives. Through its three
businesses - Pharmaceutical Services & Active Ingredients, Global
Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of
products and services including APIs, custom pharmaceutical services,
generics, biosimilars and differentiated formulations. Our major
therapeutic areas of focus are gastro-intestinal, cardiovascular,
diabetology, oncology, pain management and anti-infectives. Dr. Reddy’s
operates in markets across the globe. Our major markets include – USA,
Russia & CIS and India. For more information, log on to: www.drreddys.com
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