Dr. Reddy’s Eyes German Acquisition

Dr. Reddy's Laboratories has offered 450 mln eur for German generic drug maker Betapharm Arzneimittel GmbH, the fourth largest generics drug company in Germany.

The acquisition will be the biggest overseas acquisition by an Indian pharmaceuticals company.

A European company and Ranbaxy Laboratories are also making offers, while India's Wockhardt may have backed out.

Source: Forbes.com, February 2, 2006.