DR.REDDY'S LABORATORIES LTD. - Clarifies on News Item
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| 28 Sep 2015 | |
| With reference to the news reported in (MINT 26/09/2015) - "Dr. Reddy's to buy IP rights of Alchemia's fondaparinux drug for Rs. 116 cr", Dr Reddys Laboratories Ltd has Clarified to BSE as under:<BR><BR>"To your observation on todays movement of our share price, in our opinion, is due to the approval by the US FDA and subsequent launch of our high value generic Esomeprazole product in the US market.<BR><BR>We would also like to clarify that the aforementioned news article regarding purchase of IP rights for Alchemia drug at Rs. 116 cr. is a transaction in the regular course of the business. We already have an existing technology licensing agreement with Alchemia. Proposed transaction just represents a conversion of the said licensing agreement into a proposed IP ownership structure. At this stage we have only signed a binding term sheet with the party and a definitive agreement has not yet been reached. Further, we believe that the impact of this transaction is not material to our operations, warranting a stock exchange intimation under clause 36 of the Listing Agreement." | |
| View all announcements for DR.REDDY'S LABORATORIES LTD. | Source: BSE India |
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