Dr. Reddy's terminates business deal with JB Chemicals & Pharmaceuticals

27 Sep 2011 Evaluate

Dr. Reddy's Laboratories’ proposed business deal to acquire the pharmaceutical prescription portfolio of JB Chemicals & Pharmaceuticals (JBCPL) in Russia and other CIS countries has been mutually terminated in the overall business interest of both parties.

Dr. Reddy's and JBCPL had entered into an agreement on July 22, 2011. Russia is one of Dr. Reddy's focus markets where it will continue to improve its market ranks and are committed to expanding its presence in the region.

Recently, the company had launched rivastigmine tartrate Capsules (1.5 mg, 3 mg, 4.5 mg and 6 mg), a bioequivalent generic version of Exelon capsules in the US market on September 15, 2011 following the approval by the United States Food & Drug Administration (USFDA) of the company’s Abbreviated New Drug Application (ANDA) for rivastigmine tartrate capsules.

Dr. Reddy's Laboratories is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs.

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