BOMBAY, Feb. 16 (UPI) -- Dr. Reddy's Laboratories Ltd. of India is paying $576 million to buy Germany's fourth largest generic drug maker.
DRL had been battling Ranbaxy to acquire Betapharm Arzneimittel from British private equity group 3i Group PLC, the Economic Times said Thursday.
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DRL, India's third-largest drug company, will fund the acquisition with internal cash and a loan.