Dr Reddys told to pay around Rs 339 crore to Hatchtech
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New Delhi: Dr Reddy's Laboratories on Tuesday said it has been asked to pay USD 46.25 million (around Rs 339 crore) to Australia-based Hatchtech Pty Ltd as part of an asset purchase agreement between the two parties in 2015.
The company is in receipt of an arbitration award issued by the US-based International Center for Dispute Resolution whereby a subsidiary has been asked to pay an amount of USD 46.25 million towards milestones, interest and fees to Hatchtech, the Hyderabad-based drug major said in a regulatory filing.
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