Press Release
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`DR. REDDY'S LABORATORIES LTD.
`8-2-337, Road No. 3, Banjara Hills,
`Hyderabad - 500034. Telangana, India.
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`CONTACT
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`INVESTOR RELATIONS
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`MEDIA RELATIONS
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`KEDAR UPADHYE
`kedaru@drreddys.com
`(Ph: +91-40-66834297)
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`CALVIN PRINTER
`calvinprinter@drreddys.com
`(Ph: +91-40- 49002121)
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`Dr. Reddy’s to acquire product portfolio from TEVA for US Market
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`Hyderabad, India, June 11, 2016 For Immediate Release
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`Hyderbad, India and Princeton, USA — Dr. Reddy’s Laboratories (BSE: 500124, NSE: DRREDDY, NYSE:
`RDY) has entered into a definitive agreement with Teva Pharmaceutical Industries Ltd. (NYSE and TASE:
`TEVA) and an affiliate of Allergan plc (NYSE: AGN) to acquire a portfolio of eight Abbreviated New Drug
`Applications (ANDAs) in the U.S. for $350 million in cash at closing. The acquired portfolio consists of
`products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s
`generics business. The acquisition of these ANDAs is also contingent on the closing of the Teva/Allergan
`generics transaction and approval by the U.S. Federal Trade Commission of Dr. Reddy’s as a buyer.
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`The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA, and
`comprised of complex generic products across diverse dosage forms. The combined sales of the branded
`versions of the products in the U.S. is approximately $3.5 billion MAT for the most recent twelve months
`ending in April 2016 according to IMS Health*.
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`G.V. Prasad, Co-Chairman and CEO of Dr. Reddy’s Laboratories, commented, “This transaction will add
`strength to our product portfolio, help us be more relevant in our U.S. market and also create new
`opportunities for growth.”
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`Alok Sonig, Executive Vice president and Head of North America added, “Dr. Reddy’s Laboratories has a
`strong track record in the U.S. market with over 79 filed ANDAs pending approval, of which we believe 18
`have first-to-file status. The acquisition of these attractive ANDAs from Teva will enhance our short-to-
`midterm aspirations and is consistent with our growth initiatives to identify inorganic opportunities to
`expand our base business.”
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`Dr. Reddy’s Laboratories is acquiring the portfolio on a cash-free, debt-free basis and expects to finance
`the transaction using a combination of cash on hand and available borrowings under existing credit
`facilities.
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`*IMS National Sales Perspectives: Retail and Non-Retail MAT April 2016
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`About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company,
`committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services &
`Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom
`pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastro-intestinal,
`cardiovascular, diabetology, oncology, pain management and anti-infectives. Dr. Reddy’s operates in markets across the globe. Our major
`markets include – USA, Russia & CIS, Venezuela and India. For more information, log on to: www.drreddys.com
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`Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the
`management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results,
`performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-
`looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts",
`"potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ
`materially from those in such statements due to without limitation, (i) general economic conditions such as performance of financial markets,
`credit defaults , currency exchange rates , interest rates , persistency levels and frequency / severity of insured loss events (ii) mortality and
`morbidity levels and trends, (iii) changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the
`policies of central banks and/or governments, (v) the impact of acquisitions or reorganization , including related integration issues.
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`The company assumes no obligation to update any information contained herein.
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`Dr. Reddys v. MonoSol
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