Dr Reddy's Swiss to sell entire stake in Dr Reddy's Venezuela C.A.
Hyderabad: Through a recent BSE filing, Dr Reddy's Labs has informed that the wholly owned subsidiary of the Company, namely, Dr Reddy's Laboratories SA, Switzerland, (referred to hereinafter as "Dr. Reddy’s Swiss") has entered into Stock Purchase Agreement for sale/ disposal of its entire stake in Dr Reddy’s Venezuela C.A., Venezuela, the wholly owned subsidiary of Dr. Reddy’s Swiss. Pursuant to the Stock Purchase Agreement, shares will be sold to Kuraduria Holdings Corp (‘KHC’).
Consequently, Dr. Reddy’s Venezuela C.A. will cease to be a wholly owned subsidiary of Dr. Reddy’s Swiss as well as step down wholly owned subsidiary of the Company.
The completion of sale/ disposal will be effective by April 17, 2024, as per the Company's expectation.
Established in 1984, Dr Reddy’s Laboratories Ltd. is a global pharmaceutical company headquartered in Hyderabad, India. Dr Reddys offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr Reddys major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe.
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