GV Prasad

G V Prasad appointed as chairman of Dr Reddy's Laboratories

G V Prasad appointed as chairman of Dr Reddy's LaboratoriesDr Reddy's Laboratories have said that its board of directors have appointed G V Prasad as the new chairman of the Indian pharmaceutical giant.

G V Prasad, who is the son-in-law of Anji Reddy, has been working as the vice-chairman and chief executive officer (CEO) of the company. Prasad will continue to work as the CEO of the company.

The company has also said that it has appointed K Satish Reddy as the new vice-chairman and he will continue in his existing roles as managing director and chief operating officer.

Dr Reddy’s to takeover OctoPlus for 27.4 million euros

Dr Reddy’s to takeover OctoPlus for 27.4 million eurosIndian drug maker, Dr Reddy's Laboratories has announced its decision to acquire OctoPlus NV, a specialty pharmaceutical company based in the Netherlands, for 27.4 million euros.

The two companies said in a joint statement that they have reached a reached conditional agreement over the takeover. Dr Reddy's Laboratories or a wholly owned subsidiary will launch an intended public offer to acquire all issued and outstanding ordinary shares of OctoPlus. Dr Reddy's will acquire the company's shares at the rate of 0.52 euro per share.

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