Dr Reddy’s In $350 Million Deal To Buy Eight US Drugs From Teva, Allergan

By NEWSCOP | INNLIVE

India's second-largest drugmaker Dr Reddy's Laboratories Ltd said it agreed to buy eight generic drugs from Teva Pharmaceutical Industries and Allergan Plc for $350 million in cash to bolster its US business.

The deal is among Dr Reddy's biggest acquisitions, and comes at a time when the company has been facing slowing growth in the United States, its largest market, due to regulatory troubles and fewer new drug approvals. Some formerly lucrative emerging markets have also taken a hit over the past year, and caused the company's March quarter profit to slump 86 percent.