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Dr. Reddy's acquires Italian firm, Jet Generici Sri

Shalini Kakkad 4 April 2008

Dr. Reddy's Laboratories Ltd., India's second-largest drug-maker, has informed that the company 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 company expects that the present acquisition will provide access to an essential product portfolio, a pipeline of registration applications, and a sales and marketing organisation.

However, the financial terms and conditions of the transaction are not being disclosed.

Dr. Reddy's Laboratories Ltd. has announced a 92% decrease in net profit at Rs 42.29 crore for the quarter to Dec. 2007. Its sales decreased by 34% to Rs 775.55 crore.

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