Drugmaker Dr. Reddy’s Laboratories has acquired the ladies’s well being and dietary complement branded portfolio MenoLabs of U.S. agency Amyris Inc. that final 12 months had introduced graduation of voluntary Chapter 11 proceedings.
Seven branded merchandise designed to supply well being help and tackle signs of perimenopause and menopause in addition to the MenoLife well being tracker app kind a part of the acquisition, Dr. Reddy’s stated on Wednesday with out disclosing the financials. The firm’s shares closed lower than 0.10% greater at ₹5,931.05 apiece on the BSE.
MenoLabs portfolio is bought within the U.S., primarily by the model’s personal and different e-commerce marketplaces, together with Amazon and Walmart. “The acquisition complements Dr. Reddy’s U.S. selfcare and wellness business portfolio of brands… 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,” Dr. Reddy’s CEO-North America Marc Kikuchi stated.
In August, the Nasdaq-listed Amyris stated it’s transferring ahead with an operational and monetary restructuring to additional advance an ongoing strategic transformation. To facilitate the restructuring, the corporate and a few of its home subsidiaries had commenced voluntary Chapter 11 proceedings within the U.S. Bankruptcy Court for the District of Delaware. Amyris stated it’s planning to exit its shopper manufacturers and can start advertising and marketing them on the market.
