Two Indian Drug Makers Make Acquisition Moves Abroad

Executive Summary

Two more Indian drug makers have moved to buy at least part of foreign firms as the industry continues acquiring other assets. Dr. Reddy's Laboratories said it would buy the U.S. pharmaceutical contract manufacturing business of BASF, but did not disclose what it would be paying. Strides Arcolab said it would buy a larger stake in Genepharm Australasia, enough to give it 55 percent ownership of the Australian firm. In return for its equity stake, Strides said it would sell Genepharm its other Australian and Asian interests for $57.3 million. (Click here for more