Dr. Reddy’s Laboratories’ Board of Directors has approved borrowings, either through issuance of commercial papers, debentures, bonds and/or through bank credit lines, term loans including external commercial borrowings, as the company may deem fit, up to an aggregate amount of Rs 2,000 crore, in one or more tranches.
Further, the board of directors has also approved sale of the Contract Development and Manufacturing Organisation (CDMO) division of Custom Pharmaceutical Services (CPS) business of the Company, to its wholly owned step-down subsidiary -- Aurigene Pharmaceutical Services (APSL), on slump sale basis, for a consideration of $72 million.
Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.
