Dr Reddy's Laboratories has completed acquisition of betapharm, its mega overseas deal valued at 480 million (Rs 2,668 crore).\n
The US continues to be the most important part of our overseas portfolio
Dr Reddy's Laboratories, the country's second biggest drug maker, revealed an unexpected consolidated net loss of Rs 522 crore in the October-December quarter, due to a writedown of intangible assets and goodwill in its German arm, Betapharm.
The Sensex opened with a positive gap of 20 points at 10,133.
While the Sun management is confident of turning around Taro, industry observers say that historically, Indian drug firms have had mixed results in their attempts to integrate their foreign acquisitions with the parent entity.
After making big-ticket acquisitions abroad, leading Indian pharmaceutical companies like Dr Reddy's Laboratories, Ranbaxy Laboratories, and Aurobindo Pharma are rapidly shifting production to their Indian facilities.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
This will be the largest M&A by an Indian firm, to be complete by January-end.
Indian pharma firms under European drug regulator's scanner.
Lupin will fund the buy through $100 mn cash reserves and a bridge loan.
Only a handful of overseas acquisitions by Indian firms have survived the bloodbath, says Bhupesh Bhandari.
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