Pharma major Dr. Reddy’s Laboratories Ltd has entered into an agreement with JB Chemicals & Pharmaceuticals to acquire its pharmaceutical prescription portfolio in the Russia and other CIS regions in a $35 million (Rs 157 cr) deal. As per the agreement, the Hyderabad-based company would acquire 20 brands from Mumbai-based JB Chemicals including key brands Metrogyl and Jocet.
Dr. Reddy’s has also entered into a supply agreement with JB Chemicals for the continued manufacturing and supply of these products associated with the acquired brands. Russia is one of Dr. Reddy’s leading markets where it enjoys a strong equity with stakeholders. This acquisition will help expand prescription, hospital and OTC portfolio, complement our existing strong basket of products and add to our growth.crackcrack
