Dr. Reddy’s Laboratories Limited Intends to Make a Recommended Public Offer
for OctoPlus N.V.
HYDERABAD, India -- October 22, 2012
Dr. Reddy’s Laboratories Limited (NYSE:RDY) (“Dr. Reddy’s”), together with its
subsidiaries, announces the intended public offer to acquire the issued and
outstanding shares of OctoPlus N.V. (Euronext Amsterdam:OCTO) (“OctoPlus”), a
service-based specialty pharmaceutical company, for an offer price of €27.39
million (cum dividend) in cash, representing 100% of the issued and
outstanding ordinary shares. The offer price represents a premium of 30% over
the closing price of OctoPlus as of the EoD, October 19, 2012.
Dr. Reddy’s currently holds an irrevocable commitment from shareholders
representing over 50% of OctoPlus’s issued and outstanding shares. Further,
the Executive Board and the Supervisory Board of OctoPlus have unanimously
recommended the Offer to the remaining shareholders.
This deal will help expand the expertise and scientific capabilities of Dr.
G V Prasad, Vice-Chairman and CEO of Dr. Reddy’s, said, “As we globalize our
R&D efforts, we are looking forward to build a research base in Leiden
(Netherlands). The acquisition helps us ramp up our technology capabilities in
Assuming that the requisite numbers of shares are tendered by the balance
shareholders, the transaction is likely to be concluded by the end of the
current fiscal year.
This press release includes forward-looking statements, as defined in the U.S.
Private Securities Litigation Reform Act of 1995. We have based these
forward-looking statements on our current expectations and projections about
future events. Such statements involve known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially. Such
factors include, but are not limited to, changes in local and global economic
conditions, our ability to successfully implement our strategy, the market
acceptance of and demand for our products, our growth and expansion,
technological change and our exposure to market risks. By their nature, these
expectations and projections are only estimates and could be materially
different from actual results in the future.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) is an integrated global
pharmaceutical company committed to providing affordable and innovative
medicines for healthier lives. Through its three businesses - Pharmaceutical
Services and Active Ingredients, Global Generics and Proprietary Products –
Dr. Reddy’s offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars, differentiated formulations
and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular,
diabetology, oncology, pain management, anti-infective and pediatrics. Major
markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa,
Romania and New Zealand. For more information, log on to: www.drreddys.com.
Dr. Reddy’s Laboratories Limited
Investors and Financial Analysts:
Kedar Upadhye, +91-40-66834297
Saunak Savla, +91-40-49002135
Milan Kalawadia (North America), 908-203-4931
S Rajan, +91-40-49002445
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