India’s Dr Reddy’s Laboratories says that it has acquired Jet Generici, a company engaged in the sale of generic finished dosages in Italy. Financial terms of the transaction are not being disclosed.
The deal has been completed via Dr Reddy’s Italian subsidiary and the buyer says that the acquisition provides access to “an essential product portfolio, a pipeline of registration applications, and a sales and marketing organisation”. Commenting on the deal, VS Vasudevan, president and head of European operations said that “Dr Reddy’s “has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe”.
He added that the acquisition has been “well-timed, since Dr Reddy’s will be able to immediately supplement the Jet Generici portfolio via its own pipeline”. Mr Vasudevan concluded by saying that “we already have registration for one significant Dr Reddy’s product, and a strong pipeline of registration applications”.
The Jet deal comes days after the Hyderabad-based firm announced it will acquire the UK business of Dowpharma Small Molecules, a unit of the US giant Dow Chemical Co, for an undisclosed sum. That acquisition covers Dowpharma’s facilities in Mirfield and Cambridge in the UK.
