Dr Reddy’s Revises Wockhardt Terms In Light Of COVID-19 Slump
Deal Restructured After Wockhardt Unit’s Sales Fall In March And April
Dr Reddy’s has completed its deal for Wockhardt’s branded generics business. However, the two companies have renegotiated the financial terms of the deal following the impact of the COVID-19 pandemic on Wockhardt’s business.
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Biosimilars players are gaining an increasing foothold in the off-patent industry, as demonstrated by the final part of our annual Top 50 ranking.
Having a year ago radically altered its business by offloading operations in India to rival Dr Reddy’s, India’s Wockhardt saw another burst of sales in the UK, amid its tie-up with AstraZeneca for the COVID-19 vaccine.
In the third and final part of Generics Bulletin’s newly-compiled global sales ranking of generics and biosimilars companies, one or two new entrants appeared towards the bottom of the top 50.