Wockhardt sells part of branded biz to Dr Reddy's for Rs 1850 crore

Deal would help Wockhardt focus on international operations, novel pipeline R&D

Dr Reddy's Laboratories (DRL) has entered into a definitive agreement with Wockhardt to acquire select divisions of its branded generics business in India, Nepal, Sri Lanka, Bhutan and Maldives, and a manufacturing plant for Rs 1,850 crore. 

The business is valued at 3.8 times the annualised revenue. As a part of the deal, a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines would be transferred to DRL, along with related business assets and liabilities, contracts, permits, intellectual properties, employees, and marketing, sales and distribution of the same (in India, Nepal, Bhutan,