Dr Reddy’s to Acquire Dutch Firm ‘OctoPlus’ for Rs 193 Crore

Hyderabad-based pharma major, Dr Reddy’s Laboratories Ltd together with its subsidiaries announced its intent to buy OctoPlus, Amsterdam for an offer price of €27.39 million (about Rs 193 crore).

OctoPlus is a service based specialty pharmaceutical company. Dr Reddy's offer price of €27.39 million (cum-dividend) in cash, represents 100 per cent of the issued and outstanding ordinary shares. The offer price represents a premium of 30 per cent over the closing price of OctoPlus as of October 19.

This deal will help expand the expertise and scientific capabilities of Dr Reddy's.