Dr. Reddys Laboratories Ltd.

Dr. Reddy's Laboratories’ wholly owned subsidiary -- Dr. Reddy's Research and Development B. V. has entered into an asset purchase agreement for sale of its certain assets and liabilities including transfer of employees at site situated at Zernikedreef 12, 2333, CL Leiden, The Netherlands. Dr. Reddy's Research and Development B. V. has entered into an asset purchase agreement with Delpharm Development Leiden BV, part of France-based Delpharm Group.

The agreed consideration for the assets and liabilities of the said site is Euro 1. Further the company has agreed to pay to the purchaser a compensation of Euro 11.35 million for certain operating expenses related to the site. The compensation would be increased by an amount of Euro 1,50,000 upon satisfaction of certain conditions. Post this, no further payment would be made to the purchaser. It expects the deal to conclude by December 31, 2022.

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.