Dr. Reddy's Laboratories acquired German generics maker Betapharm Arzneimittel GmbH from private-equity owner 3i for up to approximately EUR 480 million (about $572 million), its largest overseas acquisition at the time and its entry into the German generics market. Subsequent German reference-pricing reforms eroded Betapharm's value, later forcing Dr. Reddy's to take a major writedown on the asset. Announced February 2006 and closed March 2006.