India's Dr Reddy's snaps up some UCB brands in South Asia for $128.3M

Dr. Reddy's Laboratories said it has agreed to buy some brands of UCB for 8 billion rupees ($128.3 million) in India, Nepal, Sri Lanka and Maldives, making a side deal as part of a broader growth drive in manufacturing and injectables.

The revenues from these brands notched up to around 1.5 billion rupees in 2014, the Indian generic drug maker said.

The acquisition of UCB's existing drugs in dermatology, respiratory and pediatrics diseases will further expand Dr. Reddy's footprint in these fast growth areas, the company said.

Dr. Reddy's expects to close the deal in the first quarter of fiscal 2016.

- here's the release release