Monday, Aug 15, 2022
English News
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Dr Reddys To Acquire Germany Based Nimbus Health

Dr Reddy’s to acquire Germany-based Nimbus Health

By Telangana Today
Published: Published Date - 06:21 PM, Thu - 3 February 22
Dr Reddy’s to acquire Germany-based Nimbus Health
Dr Reddys.

Hyderabad: Hyderabad-based Dr Reddy’s Laboratories entered into a definitive agreement to acquire Nimbus Health GmbH, a privately owned, licensed pharmaceutical wholesaler from Germany focusing on medical cannabis. Dr Reddy’s will acquire Nimbus Health for an upfront payment plus performance and milestone-based earn-outs over the next four years.

Founded in 2018, Nimbus Health is one of the pioneer companies for medical cannabis in Germany. 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.

The demand for medical cannabis has increased over the past years with the legalisation of medical cannabis by the German Parliament (Bundestag) in 2017. The medical cannabis market in Germany is already valued at about Euros 122 million with growth of about 25 per cent in 2021 compared to 2020 and a CAGR of 55 per cent since 2017, making Germany one of the largest markets in Europe.

Patrick Aghanian, Head of European Generics, Dr Reddy’s, said, “Medical cannabis is increasingly used to address and treat high unmet medical needs, especially in pain management and CNS. Further, with numerous studies being conducted to leverage and introduce medical cannabis, we believe this is a must-be field for future healthcare delivery.”

“The close alignment between the values of Dr Reddy’s and Nimbus gave us the confidence that we can stay focused on the existing business and grow future endeavours together,” added Linus Maximilian Weber, founder and MD of Nimbus Health.


Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .


  • Follow Us :
  • Tags
  • Dr.Reddy's
  • Hyderabad
  • Nimbus Health
  • Patrick Aghanian

Related News

  • Owaisi brothers hoist Tricolour in Hyderabad

    Owaisi brothers hoist Tricolour in Hyderabad

  • Green crusaders bat for protection of banyan trees in Hyderabad

    Green crusaders bat for protection of banyan trees in Hyderabad

  • Hyderabad: Noted bird breeder Naveed Qureshi honoured at global summit

    Hyderabad: Noted bird breeder Naveed Qureshi honoured at global summit

  • Independence Day Fete: Patriotic fervour all pervading in Hyderabad

    Independence Day Fete: Patriotic fervour all pervading in Hyderabad

  • Hyderabad sailor Alekhya bags gold in YAI Multi Class Sailing and Kiteboard Championship

    Hyderabad sailor Alekhya bags gold in YAI Multi Class Sailing and Kiteboard Championship

  • Gold worth Rs 42.88 lakhs seized at Hyderabad airport

    Gold worth Rs 42.88 lakhs seized at Hyderabad airport

Latest News

  • Infra development with Rs 38 crore under progress in govt schools in Jangaon: Errabelli

    8 mins ago
  • Telangana govt’s innovative schemes became role model to India: Gangula

    17 mins ago
  • This video ICC released in tribute to MS Dhoni will give you goosebumps

    2 hours ago
  • Netizens fume after pics of toilet brush hanging above pizza dough tray

    2 hours ago
  • Hyderabad Metro to take part in national anthem singing program on Tuesday

    1 hour ago
  • Govt changes caller tune to encourage people for Tiranga selfies

    3 hours ago
  • 20 lakh jobs for Bihar youth: Nitish’s I-Day announcement

    4 hours ago
  • TRS leader murdered brutally in broad daylight in Khammam

    23 mins ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam