The portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
Dr Reddy’s Laboratories has inked a pact with Teva Pharmaceutical and an affiliate of Allergan Plc to buy a portfolio of eight abbreviated new drug applications (ANDAs) in the US for $ 350 million (around Rs 2,300 crore) in cash.
The portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
The portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA and comprised of complex generic products across diverse dosage forms, company added.
The company stated that the combined sales of the branded versions of the products in the US is around $ 3.5 bn.
Dr Reddys Laboratories Ltd ended at Rs. 3064.6, down by Rs. 6.85 or 0.22% from its previous closing of Rs. 3071.45 on the BSE.
The scrip opened at Rs. 3070 and touched a high and low of Rs. 3091.2 and Rs. 3048.05 respectively. A total of 311148(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 52284.42 crore.
The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 4382.95 on 20-Oct-2015 and a 52 week low of Rs. 2750 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 3182.8 and Rs. 3048.05 respectively.
The promoters holding in the company stood at 25.58 % while Institutions and Non-Institutions held 42.02 % and 32.4 % respectively.
The stock traded above its 200 DMA.
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