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Dr. Reddy’s enters €118m product agreement with UCB in India

Portfolio acquisition will expand firm’s therapy footprint

indiaDr. Reddy's Laboratories has entered a €118m (INR 800 Crores) definitive agreement to acquire a select portfolio of established products from UCB in India.

The agreement, which includes products established in the territories of India, Nepal, Sri Lanka and Maldives, additionally involves approximately 350 employees engaged in operations of the India business.

Alok Sonig, senior VP and India business head, commented: “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.”

The portfolio acquisition will further strengthen Dr. Reddy's' therapy footprint in the areas of dermatology, respiratory and pediatrics diseases. The transaction is expected to close in Q1 on the 2015-16 financial year.

Mark McDade, chief operating officer at UCB, added: “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.

“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.

Article by
Kirstie Pickering

9th April 2015

From: Sales

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