Dr Reddy's to buy select brands from UCB for Rs 800 crore

Dr Reddy's Laboratories, India's second-largest drugmaker by sales, said it will buy some established brands of Belgian drugmaker UCB SA in India, Nepal, Sri Lanka and Maldives for Rs 800 crore ($128.38 million).

The deal will help Dr Reddy's strengthen its presence in dermatology, pediatrics and respiratory products, the company said in a statement to the Bombay Stock Exchange.

The acquired business generated full-year 2014 revenue of about Rs 150 crore, Dr Reddy's said.

Reuters reported last month that Dr Reddy's was in talks with UCB for a deal concerning the latter's Indian operations, citing a source with direct knowledge of the matter.

($1 = 62.3150 rupees)