Itâ€™s raining deals at Hyderabad-based Dr Reddyâ€™s. Barely two days
after it said it was acquiring Dowpharmaâ€™s UK business units, Dr Reddys
Labs has announced the purchase of Jet Generici Sri, an Italian
generics company, for an undisclosed sum. The deal is believed to give
Dr Reddyâ€™s a greater generics play in the â‚¬ 570-million Italian pharma
Just a month back, the company also entered into a drug discovery collaboration with 7TM Pharma.
Jet Generici, which recorded revenue of â‚¬ 1.5 million, brings to the table frontline capabilities with its 20-strong sales force, over 20 products and a pipeline of registerations in the local market. The deal has been completed through Dr Reddyâ€™s Italian subsidiary Reddy Pharma Italia SpA, engaged in building pipeline registerations.
Dr Reddyâ€™s president and head (Europe operations) VS Vasudevan said, in a statement, â€œthis is a big step forward in establishing our business in the third largest pharma market in Europe. Dr Reddyâ€™s will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We already have registration for one significant Dr Reddyâ€™s product, and a strong pipeline of registration applications.â€
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