Dr Reddy’s Laboratories enters into definitive agreement to acquire Nimbus Health

Dr Reddy’s Laboratories yesterday entered into a definitive agreement to acquire Nimbus Health, a pharmaceutical wholesaler from Germany focussing on medical cannabis. Dr Reddy’s will acquire Nimbus Health for an upfront payment plus performance and milestone-based earn-outs over the next four years, Dr Reddy’s said in a statement.

The acquisition will allow Dr Reddy’s to build on Nimbus Health’s strengths and introduce medical cannabis-based medicines as a promising treatment option for patients. The company will be operating under the brand Nimbus Health and as a wholly-owned subsidiary of Dr Reddy’s, the statement said.

It further said that the closing of the transaction is subject to customary closing conditions.