Bird & Bird LLP advised the founders of Nimbus Health GmbH on the sale of all shares to Dr. Reddy's Laboratories ("Dr. Reddy's"). The parties have agreed not to disclose the purchase price.
Nimbus Health is one of the leading pharmaceutical companies for cannabinoid-based medicinal products in Germany (medicinal cannabis) and is fully licensed to import, register and trade in medicinal products and narcotics. As a pharmaceutical wholesaler and manufacturer with its own warehousing facilities and independent sales force, Nimbus Health distributes medicinal cannabis products to pharmacists.
Dr. Reddy's is an international pharmaceutical and generics company based in India. Its key therapeutic areas include pain management, oncology and dermatology. With the acquisition, Dr. Reddy's will build on Nimbus Health's strengths and introduce cannabis-based medicines as a promising treatment option for patients. The company will operate under the Nimbus Health brand and as a wholly owned subsidiary of Dr. Reddy's.
The closing of the transaction is subject to customary closing conditions.
The following Bird & Bird lawyers were involved: Partner Dr. Kai Kerger (lead), associates Johanna Schindler and Tamara Böhmert (all Corporate/M&A, Frankfurt), partner Dr. Niels Lutzhöft, LL.M. and associate Dr. Simon Hembt (both Commercial/Regulatory, Frankfurt), partner Dr. Barbara Geck and associates Franziska Fiedler and Carina Seum (all Employment, Frankfurt), partner Dr. Michael Jünemann and associate Julia Fröhder (both Finance & Financial Regulation, Frankfurt).