Dr. Reddy's Laboratories Enters Into Definitive Agreement to Acquire German Medical Cannabis Firm Nimbus Health GmbH

Key Facts

• 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.
• We are very excited that with Nimbus joining Dr. Reddy's family, together with Linus and Alessandro, we embark on a new, exciting journey of medical cannabis, which supports Dr. Reddy's mission of meeting unmet patient needs."

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