OctoPlus N.V. : Dr. Reddy's announces it has acquired 125,600 shares (0.2%) of OctoPlus N.V. on 17 January 2013

OctoPlus N.V. : Dr. Reddy's announces it has acquired 125,600 shares (0.2%) of
                       OctoPlus N.V. on 17 January 2013

This is a press  release by Reddy Netherlands  B.V. (the "Offeror"), a  wholly 
owned subsidiary of  Dr. Reddy's  Laboratories Ltd. ("Dr.  Reddy's"), and  Dr. 
Reddy's pursuant to Section 13 paragraph 1 of the Dutch Public Takeover Decree
(Besluit  openbare  biedingen  Wft,  the  "Decree")  in  connection  with  the 
recommended public offer (the "Offer") by  the Offeror for all the issued  and 
outstanding ordinary shares  (the "Shares")  in the capital  of OctoPlus  N.V. 
("OctoPlus"or the "Company"). This press release does not constitute, or  form 
part of, an offer or any solicitation of an offer, to acquire or subscribe  or 
sell any securities in OctoPlus. The Offer is only made by means of the  offer 
memorandum published  on  13  December 2012  (the  "Offer  Memorandum").  This 
announcement is not for release, publication, dissemination, or  distribution, 
in whole  or in  part, in  or into  Canada and  Japan. Capitalised  terms  not 
defined in this  press release  shall have the  meaning given  thereto in  the 
Offer Memorandum.

Hyderabad/Amsterdam, 17  January 2013  -  With reference  to the  joint  press 
release of the Offeror and OctoPlus (Euronext Amsterdam: OCTO) of 13  December 
2012 relating to the Offer, the Offeror announces that it has acquired 125,600
Shares in the course of  today at a volume weighed  average price of EUR  0.52 
per Share, a minimum price  of EUR 0.52 per Share  and a maximum price of  EUR 
0.52 per Share.

Together with the irrevocable undertakings received from the Committed
Shareholders[1] and certain members of the Boards, this results in the
following positions:

                                         Number of Shares Percentage of Shares
Shares   owned    prior    to    today's       11,048,393                21.0%
acquisitions
Shares acquired on 17 January 2013                125,600                 0.2%
Total Shares owned on 17 January 2013          11,173,993                21.2%
Shares    committed     by     Committed       33,448,839                63.5%
Shareholders and certain members of  the 
Boards
Total Shares owned and committed               44,622,832                84.7%

[1] As indicated in the joint press release of 13 December 2012 and the Offer
Memorandum, the irrevocable undertakings of the Committed Shareholders are
subject to customary terms and conditions.

Company profile 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. Over the last fiscal year the company generated
revenues of over $2.0 billion. 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: www.drreddys.com.

Company profile OctoPlus

OctoPlus is a specialty pharmaceutical company focused on the development  and 
manufacture of improved injectable  pharmaceuticals based on proprietary  drug 
delivery technologies  that  exhibit  fewer  side  effects,  improved  patient 
convenience and a better efficacy/safety balance than existing therapies.

OctoPlus also focuses  on the development  of long-acting, controlled  release 
versions  of  known  protein  therapeutics,  peptides  and  small   molecules, 
including specialty  generics.  OctoPlus is  a  leading European  provider  of 
advanced drug formulation  and clinical  scale manufacturing  services to  the 
pharmaceutical   and    biotechnology   industries,    with   a    focus    on 
difficult-to-formulate active pharmaceutical ingredients.

OctoPlus is listed  on Euronext Amsterdam  by NYSE Euronext  under the  symbol 
OCTO. More information about OctoPlus can be found on: www.octoplus.nl.

Further information

Dr. Reddy's

For further information about Dr. Reddy's, please contact:

For Investors and Financial Analysts:

Kedar Upadhye: telephone number +91-40-66834297 or send an e-mail to
kedaru@drreddys.com

Saunak Savla: telephone number +91-40-49002135 or send an e-mail to
saunaks@drreddys.com

Milan Kalawadia (USA): telephone number +1 908-203-4931 or send an e-mail to
mkalawadia@drreddys.com

For Media:

S Rajan: telephone number +91-40-49002445 or send an e-mail to
rajans@drreddys.com

OctoPlus

For further information about OctoPlus, please contact Investor Relations:
telephone number +31 (71) 524 1061 or send an e-mail to Investor Relations at
IR@octoplus.nl.

Restrictions

This announcement is for information purposes only and does not constitute  an 
offer or an invitation to acquire  or dispose of any securities or  investment 
advice or an inducement to  enter into investment activity. This  announcement 
does not constitute an offer to sell or issue or the solicitation of an  offer 
to  buy  or  acquire  the  securities  of  Dr.  Reddy's  or  OctoPlus  in  any 
jurisdiction. The distribution of this  press release may, in some  countries, 
be restricted  by  law  or  regulation. Accordingly,  persons  who  come  into 
possession of  this document  should inform  themselves of  and observe  these 
restrictions. To the fullest extent  permitted by applicable law, Dr.  Reddy's 
and OctoPlus disclaim any responsibility or liability for the violation of any
such restrictions by any person. Any failure to comply with these restrictions
may constitute  a  violation of  the  securities laws  of  that  jurisdiction. 
Neither Dr.  Reddy's, nor  OctoPlus, nor  any of  their advisors  assumes  any 
responsibility for any violation by any  person of any of these  restrictions. 
Any OctoPlus shareholder who is in any doubt as to his position should consult
an appropriate professional advisor without delay. This announcement is not to
be published or distributed in or to Canada and Japan.

Notice to US holders of Shares

The Offer will be made for the securities of a Dutch company and is subject to
Dutch disclosure requirements, which  are different from  those of the  United 
States. Some of the  financial information included  in this announcement  has 
been prepared in accordance  with International Financial Reporting  Standards 
and thus may  not be comparable  to financial information  of US companies  or 
companies whose financial statements are prepared in accordance with generally
accepted accounting principles in the United States. The Offer will be made in
the United  States  pursuant to  the  applicable  US tender  offer  rules  and 
otherwise in accordance  with the  requirements of the  Dutch Public  Takeover 
Decree. Accordingly,  the  Offer  will  be subject  to  disclosure  and  other 
procedural requirements, including  with respect to  withdrawal rights,  offer 
timetable, settlement procedures  and timing of  payments, that are  different 
from those applicable under US domestic tender offer procedures and law.

The receipt of cash pursuant to  the Offer by a US  holder of Shares may be  a 
taxable transaction for US  federal income tax  purposes and under  applicable 
state and local, as well as foreign and other tax laws. Each holder of  Shares 
is urged to consult his independent professional advisor immediately regarding
the tax consequences of acceptance of the offer.

It may be  difficult for  US holders  of Shares  to enforce  their rights  and 
claims arising  out of  the  US federal  securities  laws, since  OctoPlus  is 
located in a  country other than  the United States,  and some or  all of  its 
officers and directors  may be residents  of a country  other than the  United 
States. US holders of Shares  may not be able to  sue a non-US company or  its 
officers or directors in  a non-US court for  violations of the US  securities 
laws. Further,  it  may  be difficult  to  compel  a non-US  company  and  its 
affiliates to subject themselves to a US court's judgment.

In accordance with normal Dutch practice and pursuant to Rule 14e-5(b) of  the 
Securities Exchange Act of 1934, Dr.  Reddy's or its nominees, or its  brokers 
(acting as  agents), may  from time  to  time make  certain purchases  of,  or 
arrangements to  purchase, Shares  outside of  the United  States, other  than 
pursuant to the Offer, during the period  in which the Offer remains open  for 
acceptance. These purchases may occur either in the open market at  prevailing 
prices or in private transactions at negotiated prices. Any information  about 
such purchases  will be  disclosed as  required in  the Netherlands,  will  be 
reported to the  Netherlands Authority  for the  Financial Markets  (Stichting 
Autoriteit Financiële Markten) and disclosed by press release.

Forward Looking Statements

This press  release  may  include "forward-looking  statements"  and  language 
indicating trends, such as "anticipated" and "expected." Although Dr.  Reddy's 
and  OctoPlus  believe  that  the  assumptions  upon  which  the  irrespective 
financial information  and  their respective  forward-looking  statements  are 
based are reasonable, they can give  no assurance that these assumptions  will 
prove to  be correct.  Neither Dr.  Reddy's  nor OctoPlus,  nor any  of  their 
advisors accepts any responsibility for any financial information contained in
this press  release relating  to  the business  or  operations or  results  or 
financial condition of the other or their respective groups.

Click here for the press release in PDF format

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Source: OctoPlus N.V. via Thomson Reuters ONE
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