Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Dr. Reddy’s Intends to Make a Recommended Public Offer for OctoPlus

Published: Thursday, October 25, 2012
Last Updated: Thursday, October 25, 2012
Bookmark and Share
Public offer to acquire the issued and outstanding shares of OctoPlus.

Dr. Reddy’s Laboratories Limited has announced the intended public offer to acquire the issued and outstanding shares of OctoPlus N.V., for an offer price of € 27.39 million (cum dividend) in cash, representing 100% of the issued and outstanding ordinary shares.

The offer price represents a premium of 30% over the closing price of OctoPlus as of the EoD October 19, 2012.

Dr. Reddy’s currently holds an irrevocable commitment from shareholders representing over 50% of OctoPlus’s issued and outstanding shares.

Further, the Executive Board and the Supervisory Board of OctoPlus have unanimously recommended the Offer to the remaining shareholders.

This deal will help expand the expertise and scientific capabilities of Dr. Reddy's.

G V Prasad, Vice-Chairman and CEO of Dr. Reddy’s said, “As we globalize our R & D efforts, we are looking forward to build a research base in Leiden (Netherlands). The acquisition helps us ramp up our technology capabilities in drug delivery.”

Assuming that the requisite numbers of shares are tendered by the balance share holders, the transaction is likely to be concluded by the end of the current fiscal year.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 4,000+ scientific posters on ePosters
  • More than 5,300+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Dr. Reddy’s Appoints Chairman and Vice-Chairman
The appointments of GV Prasad and Satish Reddy were effective from 30 March 2013.
Tuesday, April 02, 2013
Scientific News
Gene Therapy Maintains Clotting Factor for Hemophilia Patients
Following a single gene therapy dose, the highest levels of an essential blood clotting factor IX were observed in hemophilia B patients.
BioCision Forms MedCision
The new company will focus on technologies for the management and automation of vital clinical processes.
First New HIV Vaccine Study for Seven Years Begins
South Africa hosts historic clinical trial of experimental HIV vaccine aiming to safely prevent HIV infection.
Study to Assess Shorter-Duration Antibiotics in Children
Physicians plan a clinical trial to evaluate whether short course anti-biotics are effective at treating CAP in children.
Cancer Gene Predicts Treatment Response in Leukaemia
Study indicates the patients suffering from a lethal for of acute myeloid leukemia may live longer when receiving milder chemotherapy drugs.
Injectable Biologic Therapy Reduces Triglycerides
Study finds first-of-its-kind therapy promising for patients with high triglycerides, cholesterol.
Testing Zika Vaccine in Humans Begins
The first of five planned clinical trials to test ZPIV vaccine in humans has begun.
Combination Therapy Improved Chemoresistance in Ovarian Cancer
The study demonstrates how an existing class of targeted therapies could be used to potentiate the tumor suppression induced by cisplatin.
Gene Therapy for Blistering Skin Disease Shows Promise
Grafting genetically altered skin onto patients’ chronic wounds marks the first time skin-based gene therapy has been demonstrated to be safe and effective in humans.
Alzheimer’s Treatment Moves a Step Closer
Merck scientists have reported the discovery of verubecestat, a structurally unique, orally bioavailable small molecule that has been shown to target the most visible sign of the disease in the brain.
Scroll Up
Scroll Down
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
4,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,300+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!