The deal has been completed through Dr Reddy’s Italian subsidiary, Reddy Pharma Italia, which has been engaged in building a pipeline of registrations since its incorporation. The acquisition provides access to an essential product portfolio, a pipeline of registration applications, and a sales and marketing organization.
Mr Vasudevan, president and head of Dr Reddy’s Europe operations, said: The acquisition has been well timed, since Dr Reddy’s will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We believe that this strategic investment will generate substantial opportunities for long-term value creation in one of the fastest growing generic markets of the world.