Pharma major Dr. Reddy’s Laboratories Ltd has entered into an agreement with JB Chemicals & Pharmaceuticals to acquire its pharmaceutical prescription portfolio in the Russia and other CIS regions in a $35 million (Rs 157 cr) deal.
As per the agreement, the Hyderabad-based company would acquire 20 brands from Mumbai-based JB Chemicals including key brands Metrogyl and Jocet.
Dr. Reddy’s has also entered into a supply agreement with JB Chemicals for the continued manufacturing and supply of these products associated with the acquired brands.
`Russia is one of our leading markets where we enjoy a strong equity with stakeholders. This acquisition will help expand our prescription, hospital and OTC portfolio, complement our existing strong basket of products and add to our growth, Mr Satish Reddy, Managing Director and Chief operationg officer, Dr. Reddy’s said in a release.