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Dr Reddy’s in $350-m deal with Teva, Allergan

business Updated: Jun 13, 2016 06:18 IST

MUMBAI: India’s second-largest drugmaker, Dr Reddy’s Laboratories, will buy eight generic drugs from Teva Pharmaceutical Industries and Allergan Plc for $350 million (around Rs 2,400 crore) in cash to bolster its US business. The deal is among Dr Reddy’s largest acquisitions, and comes at a time when the company has been facing slowing growth in the United States, its largest market, due to regulatory troubles and fewer new drug approvals. Some formerly lucrative emerging markets have also taken a hit over the past year, and caused the company’s March quarter profit to slump 86%.

First Published: Jun 13, 2016 06:18 IST