Dr Reddy's Laboratories has approved the merger of its wholly owned subsidiary, Zenovus Biotech Ltd at its Board meeting. The merger is expected to integrate the competencies of both companies in the area of biotechnology and provide a further fillip to the efforts of Dr Reddy's in this field.

The Board also decided on the closure of the company's diagnostic business. Ram Mohan said the decision was part of the company's strategy to focus on core businesses and high value businesses. The diagnostic business was low and therefore the company had decided to exit from this business, he said.

The Board has decided to de-list the company from the Hyderabad, Ahmedabad, Kolkata and Madras stock exchanges. The Board made the recommendation as there was not enough trading on the regional exchanges.

Dr. Reddy's Labs will now remain listed on the BSE and NSE, besides NYSE. Dr Reddy's took this step following the new de-listing norms allowing company's to exit the regional bourses and continue on the major bourses like the BSE and NSE, where there was significant activity.