Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Dr. Reddy's Bids on OctoPlus | Contract Pharma

What are you searching for?

Sign in
Breaking News, Collaborations & Alliances

Dr. Reddy’s Bids on OctoPlus

Offers $36 mil. for Dutch service provider

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Dr. Reddy’s Laboratories has made an offer of $36 million to acquire OctoPlus, a service-based specialty pharmaceutical company headquartered in the Netherlands. The offer price represents a premium of 30% above the closing price of OctoPlus as of October 19, 2012.

This deal will help expand the expertise and scientific capabilities of Dr. Reddy’s. G V Prasad, the company’s vice chairman and chief executive officer, commented, “As we globalize our R&D efforts, we are looking forward to build a research base in Leiden (Netherlands). The acquisition helps us ramp up our technology capabilities in drug delivery.”

Dr. Reddy’s currently holds an irrevocable commitment from shareholders representing more than half of OctoPlus’s issued and outstanding shares. Further, the executive board and the supervisory board of OctoPlus have unanimously recommended the offer to the remaining shareholders. If the tender offer goes according to plan, the deal should close by the end of the current fiscal year.

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics