Dr. Reddy’s Laboratories has entered into a definitive agreement with Wockhardt Limited to acquire select divisions of its branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives for approximately $270 million.
 
The business comprises a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines, which would transfer to Dr. Reddy’s along with related sales and marketing teams. The deal also includes Wockhardt’s manufacturing plant located in Baddi, Himachal Pradesh with all plant employees.
 
“India is an important market for us and this acquisition will help in considerably scaling-up our domestic business,” said GV Prasad, managing director, Dr. Reddy’s. “The acquired portfolio shall enhance Dr. Reddy’s presence in the high growth therapy areas with market leading brands such as Practin, Zedex, Bro-zedex, Tryptomer and Biovac. We believe the portfolio holds a lot of potential and will get an impetus under Dr. Reddy’s. We welcome the team joining as part of the deal to the Dr. Reddy’s family.”
 
The transaction is expected to be closed in the first quarter of the financial year 2020-21.