Key Developments: Dr.Reddy's Laboratories Ltd (REDY.BO)

REDY.BO on Bombay Stock Exchange

3,139.15INR
24 Dec 2014
Price Change (% chg)

Rs-66.10 (-2.06%)
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Rs3,205.25
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Latest Key Developments (Source: Significant Developments)

FUJIFILM Holdings Corp. And Dr.Reddy's Laboratories Ltd Call Off Joint Venture For Generic Drugs In Japan
Monday, 3 Jun 2013 02:10am EDT 

FUJIFILM Holdings Corp. And Dr.Reddy's Laboratories Ltd announced that they have decided to terminate the MoU to enter into an exclusive partnership in the generic drugs business for the Japanese market and to establish a joint venture in Japan. Though the Memorandum of Understanding for generic drugs has been canceled, both the companies will explore partnerships in other related areas. DRL and Fujifilm signed a MoU on July 28, 2011 and the duo had conducted detailed studies on the establishment of a joint venture for developing and manufacturing generic drugs in Japan. However, as Fujifilm realigns its long-term growth strategy for the pharmaceutical business, both companies have come to a mutual agreement to terminate the MoU. The two companies will continue to explore partnership/ alliance opportunities in other pharmaceutical businesses such as API (active pharmaceutical ingredient) development and manufacturing, contract research and development and marketing of super-generics.  Full Article

Dr.Reddy's Laboratories Ltd Recommends Final Dividend
Tuesday, 14 May 2013 04:14am EDT 

Dr.Reddy's Laboratories Ltd announced that the Board of Directors at its meeting held on May 14, 2013 has recommended a final dividend of INR15 (300%) per equity share of INR5 face value, for the financial year 2012-2013.  Full Article

Dr.Reddy's Laboratories Ltd Announces Launch Of Zoledronic Acid Injection
Thursday, 4 Apr 2013 01:09am EDT 

Dr.Reddy's Laboratories Ltd announced that it has launched Zoledronic Acid Injection (5 mg/100 mL), a bioequivalent generic version of Reclast (zoledronic acid) 5mg/100mL Injection in the US market on April 3, 2013, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy’s ANDA for Zoledronic Acid Injection (5 mg/100 mL).  Full Article

Dr.Reddy's Laboratories Ltd Appoints GV Prasad As Chairman
Monday, 1 Apr 2013 06:40am EDT 

Dr.Reddy's Laboratories Ltd announced that based on the recommendations of the Nominations, Governance, and Compensation Committee, its Board of Directors have been appointed GV Prasad, present Vice Chairman and CEO as the Chairman and CEO and Sathish Reddy as Vice Chairman in addition to his present role COO and MD, effective from March 30, 2013.  Full Article

Dr.Reddy's Laboratories Ltd Launches Generic Capsules For Acne Treatment In US-Business Line
Thursday, 28 Mar 2013 08:00pm EDT 

Business Line reported that Dr.Reddy's Laboratories Ltd has launched Zanatane (Isotretinoin) capsules in the US market. They are indicated in the treatment of severe acne.  Full Article

Dr.Reddy's Laboratories Ltd and Nordion Inc Settle Claims
Friday, 22 Mar 2013 10:37am EDT 

Dr.Reddy's Laboratories Ltd announced that it had settled its claims against Nordion Inc (formerly MDS Inc.), headquartered in Ottawa, Canada, in a case pending in the United States District Court for the District of New Jersey, for a cash payment of USD 22.5 Million by Nordion to Dr. Reddy`s. The settlement was concluded on 20 March 2013, with the receipt of the settlement funds by Dr. Reddy`s. The case was brought by Dr. Reddy`s in April 2009 seeking damages sustained by the Company caused by a claimed breach by Nordion (then MDS) of its Laboratory Services Agreement with Dr. Reddy`s. Nordion, as a contract research organization, provided laboratory services to Dr. Reddy`s, including bio-equivalency studies, to support Dr. Reddy`s regulatory applications for approval of generic drugs, including Abbreviated New Drug Applications (ANDAs) filed with the United States Food and Drug Administration (the USFDA) for approval to market generic drugs in the United States. The case arose after the USFDA cited MDS with violations of good laboratory practices which caused the USFDA not to accept, without further substantiation, MDS`s laboratory reports performed during the period 2000-2004.  Full Article

Dr.Reddy's Laboratories Ltd Announces Demise Of Chairman
Friday, 15 Mar 2013 10:27am EDT 

Dr.Reddy's Laboratories Ltd announced that Dr. K. Anji Reddy, founder and Chairman of Dr.Reddy's Laboratories Ltd., passed away this evening in Hyderabad. He was ailing for some time.  Full Article

Dr.Reddy's Laboratories Ltd Announces Launch Of Zoledronic Acid Injection
Monday, 4 Mar 2013 01:49pm EST 

Dr.Reddy's Laboratories Ltd announced that it has launched Zoledronic Acid Injection (4 mg/5 mL), a bioequivalent generic version of Zometa (zoledronic acid) 4 mg/5 mL Injection in the US market on March 4, 2013, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy’s ANDA for Zoledronic Acid Injection (4 mg/5 mL). Dr. Reddy’s Zoledronic Acid Injection 4 mg/5mL is available in a single use vial of concentrate.  Full Article

Dr.Reddy's Laboratories Ltd Updates on Number of Shares Held in OctoPlus After Post Closing Acceptance Period
Wednesday, 27 Feb 2013 11:00pm EST 

Dr.Reddy's Laboratories Ltd (Dr. Reddy's) announced with reference to the joint press releases of Dr. Reddy's and OctoPlus NV (OctoPlus) issued on October 22, 2012, that Reddy Netherlands B.V. holds 98.6% of the OctoPlus Shares after the Post Closing Acceptance Period. During the Post Closing Acceptance Period, which ended as of February 26, 2013, a number of 2,746,658 Shares, representing 5.2% of the Shares and a value of EUR 1,428,262.16, have been tendered for acceptance under the Offer.  Full Article

Dr.Reddy's Laboratories Ltd Declares Offer For OctoPlus NV Unconditional
Tuesday, 12 Feb 2013 03:32am EST 

Dr.Reddy's Laboratories Ltd (Offeror) and OctoPlus, issued on October 22, 2012 and December 13, 2012 respectively, the Offeror and OctoPlus hereby jointly announced that the Offeror declares the Offer unconditional. During the Offer Period, which ended at 18.00 hours CET on February 8, 2013 (the Closing Date), 37,233,244 Shares, representing 70.7% of the Shares and a value of EUR19,361,286.88, have been tendered for acceptance under the Offer. The acquisition of Shares by the Offeror pursuant to the Offer and outside the Offer will, among other things, reduce the number of Shareholders and the number of Shares that might otherwise be traded publicly and will thus adversely affect the liquidity and may affect the market value of the remaining Shares. The Offeror intends to acquire all shares in the Company. The Offeror and the Company will jointly request NYSE Euronext Amsterdam to terminate the listing and trading of the Shares on NYSE Euronext Amsterdam as soon as the relevant requirements have been met.  Full Article

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