M&A
Dr Reddy's Lab to acquire German medical cannabis wholesaler Nimbus Health
Publicly-listed, Hyderabad-based Dr. Reddy's Laboratories Ltd, along with its subsidiaries, has entered into a definitive agreement to acquire Frankfurt-based Nimbus Health GmbH. The target is a privately owned, licensed pharmaceutical wholesaler focusing on medical cannabis in Germany. Dr Reddy's will acquire Nimbus Health for an upfront payment plus performance and milestone-based earn-outs over the next four years. The acquisition will allow Dr Reddy's to build on Nimbus Health's strengths and introduce medical cannabis-based medicines as a promising treatment option for patients. The company will be operating under the brand NimbusHealth and as a wholly-owned subsidiary of Dr. Reddy's.
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