In February this year, Dr Reddy’s had signed a business transfer agreement (BTA) with Wockhardt to acquire its domestic branded business for Rs 1,850 crore. (Shutterstock)Wockhardt and Dr Reddy’s Laboratories have recast the terms of their Rs 1,850-crore deal for the sale of the former’s branded generic business because of the Covid-19 impact. In February this year, Dr Reddy’s had signed a business transfer agreement (BTA) with Wockhardt to acquire its domestic branded business for Rs 1,850 crore. Dr Reddy’s said an amount of Rs 300 crore or the holdback amount will only be released subject to certain conditions. In the meantime, Wockhardt and Dr Reddy’s will enter into interim arrangements for management of the Baddi facility by the latter.

Source: The Telegraph June 10, 2020 20:37 UTC