Dr Reddy’s Expands Global Reach with New Denmark Subsidiary

Dr Reddy’s Laboratories has announced the incorporation of a new wholly-owned subsidiary, “Dr. Reddy’s Denmark ApS,” in Denmark on October 4, 2024. 

This new entity is a step-down wholly-owned subsidiary of Dr Reddy’s Laboratories SA, Switzerland, which is itself a wholly-owned subsidiary of the Company. The authorised share capital of the new subsidiary is DKK 40,000, divided into shares of DKK 1 or multiples thereof. It has no turnover yet, as it has not started business operations.

Dr Reddy’s Denmark ApS is promoted by DRSA, making it a related party of the Company. As this is a direct subsidiary relationship, there is no need for further disclosures about interests. The new subsidiary operates within the pharmaceutical industry.

No governmental or regulatory approvals are required for this acquisition, and there is no specific timeline for its completion. The incorporation involves DRSA’s subscription of shares, financed through cash consideration. DRSA will pay cash to acquire 100% of the shares of Dr Reddy’s Denmark ApS, and it will own 100% of Dr Reddy’s Denmark ApS.

Purpose of Acquisition

The purpose of establishing Dr. Reddy’s Denmark ApS includes producing pharmaceutical and biotechnological products and acquiring, using, buying, and selling various goods, especially intellectual property rights. The activities of this subsidiary align with the company’s main business.

Background of the Acquired Entity

Dr Reddy’s Denmark ApS is focused on producing pharmaceutical and biotechnological products. Its activities will include acquiring, using, buying, and selling various goods, especially intellectual property rights.

About Dr. Reddy’s Laboratories Ltd

Dr Reddy’s Laboratories Ltd is a prominent pharmaceutical company in India. It provides a range of products and services, including Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, and specialized formulations.

On October 04, 2024, Dr Reddy’s Laboratories Ltd share price opened at ₹6,683.55, touching the highest price of ₹6,712.05 as of 09:57 AM. 

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