Dr. Reddy’s sells its antibiotics plant in US to UAE’s Neopharma

By PharmaCompass

2018-10-04

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India’s Dr. Reddy’s Laboratory (DRL) is selling its antibiotics plant in the US to Abu Dhabi-based drugmaker, Neopharma. The deal involves DRL’s plant and assets in Bristol, Tennessee. With this acquisition, Neopharma will get its first plant in the US.

The manufacturing plant and associated facilities, which DRL bought from GlaxoSmithKline in 2010, primarily makes amoxicillin-based products, including augmentin. A separate 24,000-square-foot plastics-processing facility in Bristol is also included in the transaction. Terms of the deal were not disclosed.

“This sale is in line with our stated priority to streamline and optimize our global cost structures and help us focus on other business priorities to drive growth,” DRL’s COO Erez Israeli said in a statement. “We are pleased that the agreement may provide continued employment opportunities for many of the experienced employees at the site.”

Neopharma plans to increase the number of employees to about 50 from the current 40 by the end of next year. It plans to enlarge the plant and potentially have 100 workers there.

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