On Friday, Dr Reddy’s ended at Rs.3064.60 on BSE, down 0.22% from previous close while India’s benchmark Sensex Index fell 0.48% to close at 26635.75 points. The company said it will buy this portfolio on a cash free, debt free basis and expects to finance the transaction using a combination of cash on hand and available borrowings under existing credit facilities. “Dr Reddy’s has a strong track record in the US market with over 79 filed ANDAs pending approval of which we believe 18 have first to file status. The product includes a mix of filed ANDAs pending approval and an approved ANDA and comprised of complex generic products across diverse dosage forms. According to IMS Health data, the annual US sales for above products are approximately $3.5 billion.

Source: Mint June 11, 2016 07:30 UTC