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Business

Dr. Reddy’s picks up Teva portfolio

by Rick Mullin
June 20, 2016 | APPEARED IN VOLUME 94, ISSUE 25

The Indian generic drugmaker Dr. Reddy’s Laboratories has agreed to acquire eight Abbreviated New Drug Applications from Israel’s Teva Pharmaceutical Industries for $350 million. Teva is divesting the products as a precondition to closing on its acquisition of Allergan’s generic drugs business. The combined annual U.S. sales of the branded versions of the drugs involved are about $3.5 billion, the firms say.

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