Dr Reddy's has acquired Spain's generics pharmaceuticals producer Laboratoios Litaphar, S A, to enter the fast emerging generic market.
The Indian pharma company had acquired Spain generic company, Litaphar in May 2006, but this was kept under wraps till now. The company, in its annual report mentioned that this deal was done for €3.5 million.
Litaphar, which was started in 2001, has annual sales of €1 million. Experts believe the acquisition is a strategic fit for the company to enter emerging generic markets. They expect more acquisitions in other emerging markets like Italy.