Dr. Reddy's Laboratories (DRL) informed that the company has completed the acquisition of Nimbus Health GmbH.
Shares of DRL rose 1.6% to currently trade at Rs 4,159.95 on the BSE. The scrip has traded in the range of Rs 4,159.95 and Rs 4,081.50 so far during the day.
Nimbus Health GmbH is now a wholly owned step-down subsidiary of the company with effect from 24 February 2022, DRL said.
DRL on 3rd February 2022 announced that it has entered into a definitive agreement to acquire Nimbus Health GmbH. Nimbus Health is a privately owned, licensed pharmaceutical wholesaler from Germany focusing on medical cannabis in Germany. The company will be operating under the brand Nimbus Health and as a wholly-owned subsidiary of Dr. Reddy's.
Dr. Reddy's Laboratories is an integrated pharmaceutical company. Through its businesses, Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
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