Thursday, April 3, 2008

Dr Reddy`s buys Italian company

Dr Reddys Laboratories 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 a sales and marketing organization. Financial terms and conditions of the transaction are not being disclosed.

Shares of the company gained Rs 18.75, or 3.11%, to trade at Rs 621.35. The total volume of shares traded was 39,985 at the BSE. (2.29 p.m., Thursday)

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