DRL to acquire Bradley Pharma?

DRL bidding for Bradley?

The US may have been a tough market for the generic drugmakers, but its huge potential continues to attract interest. After a longish gap, Dr Reddy's is back on the deal street and is believed to be interested in acquiring US drug firm Bradley Pharma.

Bradley is a specialty pharma company with a presence in skincare and gynaecology range of products. Bradley Pharma management said earlier that a few preliminary bids have been received.

Last year, Bradley had sales of USD 144 million with profit of USD 9.67 million.

After buying out Germany's Betapharma, Dr Reddy's has been looking at increasing its presence in the US market. Analysts have said that rapidly thinning margins from the US generics market will compel companies to look for value-added products. 

If finalised, Dr Reddy's is expected to fund the deal partly through the ADR issue that it concluded last year. But these are early days as a few more bidding rounds are expected to decide the ultimate winner.

CNBC-TV18 Disclaimer
This information is source-based and has not been provided to the stock exchanges and is source-based.