HYDERABAD, India -- (Business Wire)
Dr. Reddy’s Laboratories has announced that it has closed the
acquisition of Habitrol® brand (an over-the-counter nicotine replacement
therapy transdermal patch) from Novartis Consumer Health Inc. following
issuance of the proposed consent order from the U.S. Federal Trade
Commission (FTC) on November 26, 2014. The company had earlier entered
into an asset purchase agreement with Novartis Consumer Health Inc. to
acquire the title and rights of Habitrol® brand and to market the
product in the U.S. market.
With this closure, the company has assumed responsibility for the
product and will commence shipments of the product in the market shortly.
Disclaimer
This press release includes forward-looking statements, as defined in
the U.S. Private Securities Litigation Reform Act of 1995. We have based
these forward-looking statements on our current expectations and
projections about future events. Such statements involve known and
unknown risks, uncertainties and other factors that may cause actual
results to differ materially. Such factors include, but are not limited
to, changes in local and global economic conditions, our ability to
successfully implement our strategy, the market acceptance of and demand
for our products, our growth and expansion, technological change and our
exposure to market risks. By their nature, these expectations and
projections are only estimates and could be materially different from
actual results in the future.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated global
pharmaceutical company, committed to providing affordable and innovative
medicines for healthier lives. Through its three businesses -
Pharmaceutical Services and 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. Major therapeutic focus is
on gastro-intestinal, cardiovascular, diabetology, oncology, pain
management and anti-infective. Major markets include India, USA,
Russia-CIS and Europe apart from other select geographies within
Emerging Markets.For more information, log on to: www.drreddys.com
Contacts:
Dr. Reddy’s Laboratories Ltd.
Investors
and Financial Analysts:
Kedar Upadhye, +91-40-66834297
kedaru@drreddys.com
or
Saunak
Savla, +91-40-49002135
saunaks@drreddys.com
or
Ashish
Girotra (USA), +1-609-375-9805
ashishg@drreddys.com
or
Media:
Shilpi
Lathia, +91-40-49002447
shilpil@drreddys.com
Source: Dr. Reddy’s Laboratories Ltd.
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