Pharmaceutical company Dr. Reddy's Laboratories Ltd., which has offices in Princeton, New Jersey, completed the acquisition of select portfolio of established brands of Belgian firm UCB in India.
Dr. Reddy’s has said the acquired UCB portfolio would accelerate its presence in the high growth areas of dermatology, respiratory and pediatrics, with brands such as Atarax, Nootropil, Zyrtec, Xyzal and Xyzal M. The company originally announced in April that it would acquire select portfolio of established brands of UCB in India, Nepal, Sri Lanka and Maldives for Rs. 800 crore ($130 million).
The company had entered into a definitive agreement with UCB which also entails absorbing 350 employees engaged in the operations of India business.
Dr. Reddy's is based in Princeton, New Jersey and Telangana, India. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products - Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
The deal was announced just days after GTCR invested in Transaction Data Systems Inc., a pharmacy management software company that does business as Rx30. Ocoee, Florida-based Rx30 develops pharmacy-management programs for hospital, long-term care and the specialty pharmaceutical markets.