Dr Reddy's buys Jet Generici Srl
Global pharma company Dr Reddy's Laboratories has gained valuable access to expertise in the sale of generic finished dosages with the acquisition of Italian specialist Jet Generici Srl.
Global pharma company Dr Reddy's Laboratories has gained valuable access to expertise in the sale of generic finished dosages with the acquisition of Italian specialist Jet Generici Srl.
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 organisation.
VS Vasudevan, president & head of Europe operations, said: "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."
Financial terms and conditions of the transaction are not being disclosed.