Dr Reddy's acquires Spain's Litaphar

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Dr Reddy's acquires Spain's Litaphar

Dr Reddy's has acquired a company in Spain to enter the fast emerging generic market. CNBC-TV18 gives the details.

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Dr Reddy's Laboratories has acquired a company in Spain to enter the fast emerging generic market, reports CNBC-TV18.

The company had acquired Spain based 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 euros.

Litaphar has annual sales of 1 million euros. 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.