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Dr. Reddy’s, Johnson Matthey Of U.K. Propose Tie

This article was originally published in PharmAsia News

Executive Summary

Dr. Reddy's Laboratories has agreed to give a 49 percent stake in its Macred India subsidiary to Johnson Matthey of the United Kingdom, according to government sources. The offer must be approved by the Indian government, which restricts the production of opium-based drugs at the center of the deal. It has allowed only two firms to produce opium derivatives from the raw opium produced by a state-run company, the Opium and Alcaloid Works. India's Foreign Investment Promotion Board was expected to consider the proposal soon. (Click here for more
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