Dr Reddy's Laboratories has acquired Jet Generici Sri, a company engaged in sales of generic finished dosages in Italy.The deal has been completed via Dr Reddy's Italian subsidiary,Reddy Pharma Italia SpA, which has been engaged in buliding a pipeline of registrations since its incorporation. Financial terms and other conditions of the transaction were not disclosed. V S Vasudevan, president & head (Europe operations), Dr. Reddy's, said: "Dr Reddy's has taken a significant step forward by establishing its business in the third largest pharmaceutical market in Europe. The acquisition has been well timed since Dr Reddy's will be able to immediately supplement the Jet Generici portfolio via its own pipeline. We already have registration for one significant Dr Reddy's product, and a strong pipeline of registration applications. We believe that this strategic investment will generate substantial opportunities for long-term value creation in one of the fastest growing generic markets of the world."
