Dr Reddy's to acquire part of Wockhardt's India business for Rs 1,850 crore

The agreement comprises a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, and dermatology.

Dr Reddy's Laboratories on Wednesday announced an agreement with Wockhardt Ltd. to acquire select divisions of its branded generics business in India, Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs 1,850 crore.

The agreement comprises a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines. Wockhardt will transfer Dr Reddy's related sales and marketing teams; and the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees. The business undertaking is being transferred on a slump sale basis, according to the company.

"India is an important market for us