The revenues of the acquired business is approximately Rs 150 crores for calendar year 2014
Dr Reddy’s Laboratories (DRL) 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 Rs 150 crores for calendar year 2014.
The acquisition of UCB’s existing brand equity in the areas of dermatology, respiratory and paediatrics 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 paediatrics with market leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M etc. We welcome UCB’s employees to our growing global team.”
Mark McDade, Chief Operating Officer, UCB 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.”