Pharmaceutical company Dr. Reddy's Laboratories Ltd. (NYSE:RDY) has entered into a definitive agreement to acquire Nimbus Health GmbH, a medical cannabis-focused licensed pharmaceutical wholesaler from Germany. Under the agreement, 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 Nimbus Health and as a wholly-owned subsidiary of Dr. Reddy's.
