Dr. Reddy’s Laboratories to acquire OctoPlus for €27.4m

Aims to build a research base in Leiden, The Netherlands

Indian pharmaceuticals manufacturer Dr Reddy’s Laboratories is to acquire Netherlands-based drug delivery technology firm OctoPlus for about €27.4m in cash in its aim to globalise its R&D.

Dr Reddy’s currently holds a commitment from shareholders representing more than 50% of OctoPlus’s issued and outstanding shares. The executive board and the supervisory board of OctoPlus have unanimously recommended the offer to the remaining shareholders.

‘As we globalise our R&D efforts, we are looking forward to build a research base in Leiden, The Netherlands. The acquisition helps us ramp up our technology capabilities in drug delivery,’ said G V Prasad, vice-chairman and CEO of Dr Reddy’s.

The transaction should be concluded by the end of the current fiscal year.

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