Dr Reddy's acquires German medical cannabis firm Nimbus HealthDRREDDY - 4336 Change: -25.00 (-0.57 %)
News: Dr Reddy's is set to acquire Nimbus Health, a licensed pharmaceutical wholesaler from Germany focusing on medical cannabis. The acquisition is through 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.
View: Medical cannabis is increasingly used for treatment in pain management and CNS. The demand for medical cannabis has increased over the past years with the legalization of medical cannabis in Germany with medical cannabis market in Germany being valued at ~ €122 million. As more European countries adopt the usage of medical cannabis, the ability to leverage and access newer geographies will be key for Dr Reddy’s.