Nestlé signs India venture with pharma group Dr Reddy's [Yahoo! Finance]
Dr. Reddy's Laboratories Ltd (RDY)
US:NYSE Investor Relations:
drreddys.com/investors
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Source: Yahoo! Finance
The publicly-listed Nestlé India will initially hold 49% of the venture, with the Hyderabad-based Dr Reddy's owning the rest. Under the terms of their agreement, Nestlé India has a call option to increase its shareholding up to 60% after six years “at a fair market value”, a stock-exchange filing read. “We have been on a journey where we strive to add value to the lives of our consumers through powerful brands and products. This joint venture is another important step in that direction, allowing us to bring our science-backed nutritional solutions to more consumers across the country by leveraging Dr. Reddy's robust retail and distribution network,” Suresh Narayanan, the chairman and MD of Nestlé India, said. “Dr. Reddy's is a trusted name in the pharmaceutical space and shares our commitment to provide access to high-quality products.” The companies plan to work together in India and “other agreed territories”, the stock-exchange announcement added. Nestlé India and Dr Reddy
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RDY
News
- Non-Steroidal Anti-Inflammatory Drugs Market Size to Worth USD 33.55 Bn by 2032 [Yahoo! Finance]Yahoo! Finance
- Dr. Reddy's Laboratories Limited (NYSE: RDY) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- India's Alembic Pharma posts higher Q4 profit on strong N.America sales [Reuters]Reuters
- Dr. Reddy's Laboratories Limited (NYSE: RDY) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Dr. Reddy's Laboratories Limited (NYSE: RDY) had its price target raised by analysts at Barclays PLC from $80.00 to $81.00. They now have an "overweight" rating on the stock.MarketBeat
RDY
Earnings
- 5/8/24 - Beat
RDY
Sec Filings
- 5/15/24 - Form 6-K
- 5/13/24 - Form 6-K
- 5/13/24 - Form 6-K
- RDY's page on the SEC website