 "drug, medicine, drugs, pharma, pharmaceutical")
Dr Reddy’s shares scaled their 52-week high on Wednesday, and continue to trade firm. With the pharma major completing its acquisition of 62 brands run by Wockhardt in India — at a lower-than-expected valuation — investor sentiment received a lift.
While the deal boosts Dr Reddy’s domestic prospects, the firm will also be holding back Rs 300 crore of the Rs 1,850-crore acquisition price that it had announced in February. The amount withheld will be paid based on the portfolio’s performance over a year.
The acquired portfolio had generated revenue of Rs 594 crore in FY19, though it has since declined to
