Dr. Reddy's Laboratories Ltd. acquired MenoLabs business from Amyris Inc. to accelerate growth in women's nutritional and wellness market.
The pharma major along with its subsidiaries acquired the leading women's health and dietary supplement branded portfolio from Amyris Inc., according to an exchange filing on Wednesday.
The acquisition includes the entire MenoLabs supplements portfolio which includes seven branded products designed to provide health support and address symptoms of perimenopause and menopause, it said.
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The deal also includes the MenoLife health tracker app that supports the product line and provides community, education, and information to consumers.
“The MenoLabs acquisition will serve as a catalyst to accelerate growth in this space and build upon our aspiration to lead in the fast-growing women's nutritional and wellness markets,” Marc Kikuchi, chief executive officer, Dr. Reddy's, North America said.
Dr. Reddy's global arm recently acquired 6.46% of Israel-based biotechnology company Edity Therapeutics for $1.97 per share to further develop its technology platform.
Shares of Dr. Reddy's Laboratories were trading 0.21% higher at Rs 5,939.5 apiece as of 2:22 p.m., compared to a 0.54% decline in the NSE Nifty 50.
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