The talks come as large Indian drugmakers such as Dr Reddy's and Glenmark Pharmaceuticals Ltd seek to bolster their presence in the domestic market, as some key export markets such as Russia suffer an economic slowdown.
Drugmaker Dr Reddy's Laboratories Ltd is in talks to acquire the Indian operations of Belgian pharmaceutical company UCB SA for about USD 135 million, said a person with direct knowledge of the matter.
The acquisition would be funded by Dr Reddy's existing cash balance, the person said. He declined to be identified because he was not authorised to talk to media.
UCB was not immediately available for comment. A Dr.Reddy's spokesman declined to comment.
Dr Reddy's had cash and market investments worth USD 456 million, according to a company presentation in February.
UCB's Indian unit employs more than 450 employees and its product portfolio in India includes drugs used for the treatment of allergies, epilepsy and respiratory disorders, according to its website.
The talks come as large Indian drugmakers such as Dr Reddy's and Glenmark Pharmaceuticals Ltd seek to bolster their presence in the domestic market, as some key export markets such as Russia suffer an economic slowdown.
Dr Reddys Labs stock price
On March 10, 2015, Dr Reddys Laboratories closed at Rs 3434.10, down Rs 28.75, or 0.83 percent. The 52-week high of the share was Rs 3662.00 and the 52-week low was Rs 2250.00.
The company's trailing 12-month (TTM) EPS was at Rs 92.70 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 37.05. The latest book value of the company is Rs 547.55 per share. At current value, the price-to-book value of the company is 6.27.
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