UCB to focus on core business in India

Global biopharmaceutical company UCB has announced it has entered an agreement with Dr. Reddy’s to sell its established brands in India, including its franchises in the areas of allergies and respiratory disorders.

The amount of the transaction amounts to INR 8000 million (~ €118 million). The agreement includes the transfer of  around 350 members of staff to Dr. Reddy’s. The revenue of the acquired business is approximately INR 1500 million for calendar year 2014.

The agreement is in line with UCB’s strategy to provide the best value for patients and to focus on bringing them innovative drugs while ensuring its mature brands portfolio continues to reach as many people as possible. Dr. Reddy’s is a leading pharmaceutical company that has the highest quality standards and growth ambitions. 

UCB to concentrate on neurology portfolio in India

Mark McDade, UCB’s Chief Operating Officer said: “UCB is in a strong position with a solid platform for continuous growth thanks to our core products and our promising pipeline. This position allows us to focus on our neurology portfolio in India, providing innovative solutions to patients living with severe diseases.

 “Finding the right company for our established brands and our team in India was crucial, and Dr. Reddy’s knowledge of the local market combined with their ambitious plans and excellent reputation convinced us they were the right choice to drive this business forward.”

Alok Sonig, Senior Vice President and India Business Head said: “The acquired UCB portfolio shall accelerate Dr Reddy’s presence in the high growth areas of Dermatology, Respiratory and Pediatrics with market leading brands like Atarax, Nootropil, Zyrtec, Xyzal, Xyzal M etc. We welcome UCB’s employees to our growing global team.”

The transaction is expected to be closed in the first quarter of the financial year 2015-16.

For more information about UCB, please visit www.ucb.com.