Dr. Reddy's plans follow-on sale of 13.5 million ADS via Citigroup, Merrill Lynch

By Ronda Fears

Memphis, Nov. 13 - Dr. Reddy's Laboratories Ltd. announced Monday plans to sell 13.5 million American Depositary Shares in a follow-on offering via joint bookrunners Citigroup and Merrill Lynch & Co.

There is a greenshoe of 1.5 million ADS available.

Proceeds are earmarked for general corporate purposes.

India-based Dr. Reddy's is a generic drug company. Its research programs are concentrated on cancer, cardiovascular disease, inflammation and bacterial infection.

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