Dr Reddy's acquires Jet Generici Srl; to establish generics range in Italy
03 Apr 2008
On the heels of its acquisition of a portion of the Dowpharma small molcules business in the UK from Dow Chemicals, Hyderabad-based Dr Reddys Laboratories Ltd today announced its acquisition Italian generic finished dosages firm Jet Generici Sri, for an undisclosed sum.
The acquisition of a ready business is a significant move for Dr Reddy's as Italy is the third largest pharmaceutical market in the EU, and Dr Reddy's Italian subsidiary, Reddy Pharma Italia SpA, which handled the Jet Generici acquisition, has been engaged in building a pipeline of registrations since its incorporation.
The acquisition provides the Indian company access to an essential product portfolio, a pipeline of registration applications, and a sales and marketing organisation.
"The acquisition has been well timed, since Dr Reddy's will be able to immediately supplement the Jet Generici portfolio via its own pipeline,'' said V S Vasudevan, president and head, Europe operations. ''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,'' he added.
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