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Business News›Industry›Healthcare/Biotech›Pharmaceuticals›Dr Reddy's unit inks
pact to sell certain assets of Netherlands-based site



THE ECONOMIC TIMES DAILY NEWSPAPER IS AVAILABLE ONLINE NOW.

Read Today's Paper


DR REDDY'S UNIT INKS PACT TO SELL CERTAIN ASSETS OF NETHERLANDS-BASED SITE

SECTIONS
Dr Reddy's unit inks pact to sell certain assets of Netherlands-based site
PTILast Updated: Dec 17, 2022, 03:47 PM IST
Synopsis


THE COMPENSATION WOULD BE INCREASED BY AN AMOUNT OF EUR 1,50,000 UPON
SATISFACTION OF CERTAIN CONDITIONS, IT ADDED. POST THIS, NO FURTHER PAYMENT
WOULD BE MADE TO THE PURCHASER, THE DRUG FIRM SAID. DR REDDY'S SAID IT EXPECTS
THE DEAL TO CONCLUDE BY DECEMBER 31, 2022.

Agencies
Dr Reddy's Laboratories on Saturday said its subsidiary DRRDBV has entered into
a pact to sell certain assets and liabilities of its Netherlands-based site. Dr
Reddy's Research and Development B V (DRRDBV), a wholly-owned subsidiary of the
Hyderabad-based company, has entered into an asset purchase agreement with
Delpharm Development Leiden BV, part of France-based Delpharm Group, the drug
firm said in a regulatory filing.

The agreement includes sale of its certain assets and liabilities including
transfer of employees at the Leiden-based site in The Netherlands, it added.

"The agreed consideration for the assets and liabilities of the said site is EUR
1. Further DRRDBV has agreed to pay to the purchaser a compensation of EUR 11.35
million for certain operating expenses related to the site," Dr Reddy's said.



The compensation would be increased by an amount of EUR 1,50,000 upon
satisfaction of certain conditions, it added.



Post this, no further payment would be made to the purchaser, the drug firm
said. Dr Reddy's said it expects the deal to conclude by December 31, 2022.





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