UCB to Sell Established Brands in India to Dr. Reddy’s
Belgium's UCB has agreed to sell its established brands in India, including its franchises in the areas of allergies and respiratory disorders, to Dr. Reddy's Laboratories for INR 8 billion, about €118 million. Revenue of the acquired business for the 2014 calendar year is approximately INR 1.5 billion. About 350 members of staff will transfer from UCB to Dr. Reddy's.
Alok Sonig, senior vice president and India business head of Dr. Reddy's Laboratories, said: "The acquired UCB portfolio shall accelerate Dr. Reddy's presence in the high growth areas of dermatology, respiratory and paediatrics with market leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M, etc."
UCB said the move is in line with its strategy to "provide the best value for patients and to focus on bringing them innovative drugs while ensuring its mature brands portfolio continues to reach as many people as possible." Mark McDade, UCB's chief operating officer, said: "This position allows us to focus on our neurology portfolio in India, providing innovative solutions to patients living with severe diseases."
