Dr. Reddys Laboratories Ltd.

Dr Reddy’s Laboratories (DRL) called off a deal to acquire the prescription portfolio of JB Chemicals and Pharmaceuticals in Russia owing to differences over valuation and other operational issues. Earlier in July, Dr Reddy’s Laboratories had entered in to an agreement with the Mumbai-based pharmaceutical firm to acquire 20 key prescription brands marketed by JB Chemicals in Russia and Common Wealth of Independent States (CIS) regions. The transaction involved sale of product registrations and intellectual property rights for a consideration of $35 million. The acquisition was supposed to expand Dr Reddy’s prescription, hospital and over the-counter market portfolio.