1. Scrip
  2. >>Business

It’s A Deal, Finally: Dr Reddy’s Snaps Up Wockhardt’s Branded Gx Business

 
• By Anju Ghangurde

Financially stretched Wockhardt sells select branded generic business to Dr Reddy’s for $260m, bringing the curtains down on a much anticipated transaction.  

M&A
Dr Reddy's acquires Wockhardt branded Gx business

Wockhardt Ltd. has divested parts of its branded generics business in India and certain international territories to Dr. Reddy's Laboratories Ltd. for INR18.50bn ($260m), ending long-running speculation around an imminent deal that is expected to help the Mumbai-based firm pare debt and provide liquidity for its remaining operations.

A deal has long been in the making and rumored suitors for the financially strained Wockhardt included private equity players such as Apax Partners, Blackstone, Carlyle and KKR, among others, at varying points in time. Indian peer Cipla Ltd. was also thought to be interested in certain assets of Wockhardt

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Lilly And Alchemab Tap Into Resilient Individuals To Develop ALS Drug

 
• By Andrew McConaghie

The pharma company is helping to validate the biotech’s model by developing a novel amyotrophic lateral sclerosis candidate, based on its novel approach that ‘turns drug discovery on its head’.

Switzerland Biopharma To Stay Strong Despite More Cash Going To US And China

 
• By Kevin Grogan

The sector is continuing to show resilience despite financial and market challenges.

Deal Watch: Lilly Looks To Creyon For Oligonucleotides

 
• By Joseph Haas

Plus deals involving J&J/Addex/Sinntaxis, Concentra/Kronos, Granata/Oviva, Coeptis/Z Squared, Ligand/Channel and more.

BioNTech Aims To Diversify BNT323 Manufacturing As Filing Nears

 
• By Alaric DeArment

The company plans to expand manufacturing of the HER2-targeting ADC beyond China and plans to file for US FDA approval in 2025.

More from Scrip

Deal Watch: Lilly Looks To Creyon For Oligonucleotides

 
• By Joseph Haas

Plus deals involving J&J/Addex/Sinntaxis, Concentra/Kronos, Granata/Oviva, Coeptis/Z Squared, Ligand/Channel and more.

BioNTech Aims To Diversify BNT323 Manufacturing As Filing Nears

 
• By Alaric DeArment

The company plans to expand manufacturing of the HER2-targeting ADC beyond China and plans to file for US FDA approval in 2025.

Accelerated Approval May Be Out Of Reach For PTC’s Huntington’s Drug

 
• By Joseph Haas

PTC said its updated Phase II data for PTC 518 met the primary endpoint of Huntingtin’s protein reduction, but analysts said there isn’t clear correlation with clinical benefit.