Dr Reddy’s Labs (DRL) has entered into a definitive agreement for the sale of Active Pharma Ingredients (API) manufacturing business unit located in Jeedimetla, Hyderabad, to Therapiva, an emerging generics pharma company. The sale is being made as going concern and includes all related fixed assets, current assets, current liabilities, and its employees.
Therapiva is a joint venture between Omnicare Drugs India, a wholly-owned subsidiary of Neopharma, Abu Dhabi and Laxai Life Sciences. It may be noted that, DRL recently sold its antibiotic manufacturing facility and related assets in Bristol, Tennessee to Neopharma Inc.
Company Profile : Dr Reddys Laboratories Ltd