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Dr Reddy’s Revises Wockhardt Terms In Light Of COVID-19 Slump

Deal Restructured After Wockhardt Unit’s Sales Fall In March And April

 
• By Dave Wallace

Dr Reddy’s has completed its deal for Wockhardt’s branded generics business. However, the two companies have renegotiated the financial terms of the deal following the impact of the COVID-19 pandemic on Wockhardt’s business.

Renegotiate
Dr Reddy’s And Wockhardt Have Renegotiated Their Deal • Source: Shutterstock

Dr Reddy’s and Wockhardt have renegotiated the terms of a deal that the pair have just completed, through which Dr Reddy’s will take ownership of Wockhardt’s branded generics business.

The pair had first announced the deal for Wockhardt to divest parts of its branded generics business in India and certain international territories – including Nepal, Sri Lanka, Bhutan and the Maldives – to Dr Reddy’s in February, citing INR18.50bn ($245m) in upfront consideration

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