Dr Reddy's acquires Spain's Litaphar: CNBC
By Our Corporate Bureau | 18 Sep 2006
The Indian pharma company had acquired Spanish generic company, Litaphar in May 2006, but this was kept under wraps until now. The company, in its annual report mentioned that this deal was done for €3.5 million.
Litaphar, which was started in 2001, has annual sales of €1 million. Experts believe the acquisition is a strategic fit for the company to enter emerging generic markets. They expect more acquisitions in other emerging markets like Italy.