Dr Reddy's Laboratories has signed an agreement to acquire the bulk drug business of Roche in Mexico for $59 million.According to a release issued by Dr Reddy's to the stock exchanges today, the product portfolio of Roche's bulk drug business currently comprises about 18 products including mature active pharmaceutical ingredients (APIs) and a range of intermediates and steroids."With the acquisition of Roche's API business in Mexico, Dr Reddy's will emerge as a leading player in custom pharmaceutical services (CPS) business, and position itself as a partner of choice for innovator companies across the globe with service offerings spanning the entire value chain of pharmeceutical services," G V Prasad, CEO of Dr Reddy's, said.The acquisition is expected to be completed by the end of December 2005, the release added.
