Dr. Reddy's offers $564M for Betapharm

The Business Standard is reporting that Dr. Reddy's has joined the hunt for Betapharm, bidding $564 million for Germany's fourth-largest generic manufacturer. Its bid puts the company in competition with Israel's Teva. Dr. Reddy's declined comment on the report. Dr. Reddy's and other Indian copy cat companies have gone on the acquisition path since India instituted new laws that restricted them from making drugs under patent in other parts of the world. Dr. Reddy's has also made it clear that it wants to make a few U.S. acquisitions in the bargain.

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