Dr. Reddy’s acquires Wockhardt's generics business divisions
Dr. Reddy’s has completed the acquisition of select divisions of Wockhardt’s branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives.
The business is comprised of a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines, which will transfer to Dr. Reddy’s along with related sales and marketing teams, and the manufacturing plant located in Baddi, Himachal Pradesh, along with all plant employees.
G.V. Prasad, Dr. Reddy’s co-chairman and managing director said, “This deal is in line with our strategic focus on India and has paved a path for accelerated growth and leadership in the domestic market. We believe that the acquired portfolio offers a good growth potential for us. We welcome the employees joining us from Wockhardt to the family of Dr. Reddy’s.”