Dr Reddys Laboratories, an integrated global pharmaceutical company, announced that it has entered into a definitive agreement to acquire a select portfolio of the established products business of UCB, in the territories of India, Nepal, Sri Lanka and Maldives.

The acquired business is being sold on a slump sale basis. The transaction includes approximately 350 employees engaged in operations of the India business. The revenues of the acquired business are approximately Rs 1.50 billion for calendar year 2014.

Shares of the company gained Rs 36.8, or 1.06%, to trade at Rs 3,524.25. The total volume of shares traded was 8,508 at the BSE (1.22 p.m., Wednesday).