Dr Reddys acquires Jet Generici Sri
Dr Reddys has acquired Jet Generici Sri, a company engaged in the sale of generic finished dosages in Italy.
By INDIATIMES NEWS NETWORK |
MUMBAI: Dr Reddys has acquired Jet Generici Sri, a company engaged in the sale of generic finished dosages in Italy.
The deal has been completed via Dr Reddy's Italian subsidiary, Reddy Pharma Italia SpA, 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 marketing organisation.
"Dr Reddy's has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe. 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 already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. 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," said VS Vasudevan, President & Head - Europe Operations.
At 2:57 pm, Dr Reddys shares were up 2.57 per cent 618.10 on BSE.
The deal has been completed via Dr Reddy's Italian subsidiary, Reddy Pharma Italia SpA, 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 marketing organisation.
"Dr Reddy's has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe. 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 already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. 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," said VS Vasudevan, President & Head - Europe Operations.
At 2:57 pm, Dr Reddys shares were up 2.57 per cent 618.10 on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
