As per reports, it has been revealed that Dr Reddy's Laboratories has made a public offering in order to acquire complete shares of OctoPlus NV, a pharmaceutical company in the Netherlands.
It is not a recent plan that the Indian drug major has decided to get hold of OctoPlus NV. On October 22, they announced that they have decided to buy complete shares of OctoPlus N for approximately 27.4 million euro.
"Dr Reddy's, together with its subsidiaries, launches the recommended public offer to acquire all the issued and outstanding shares of OctoPlus NV at an offer price of 0.52 euro", said officials known to the matter.
It is being said that the offer period will get completed by the end of this financial year. The official said the offer period has commenced from December 14 and will continue till February 8, 2013. G V Prasad, who is the vice-president of Dr Reddy's Laboratories, said that they are quite about the deal.
Prasad said they have reached at conditional agreement and have been busy in calculating the capabilities of OctoPlus when it comes to drug formulation. The outcome of the proposal is still to be revealed.
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