Hotline: 1800 102 2007
X
Search Business Opportunities
Oct, 17 2018

Dr Reddy's Labs inks deal for sale of Hyderabad API unit to Therapiva

The sale of Hyderabad API unit is part of Dr Reddy's plan to streamline manufacturing and reduce costs.

Dr Reddy's Laboratories Ltd has entered into a definitive agreement to sell its Active Pharmaceutical Ingredient (API) manufacturing business unit located in Hyderabad to Therapiva Pvt Ltd. The financial details of the deal have not been disclosed.

The sale of Hyderabad API unit is part of Dr Reddy's plan to streamline manufacturing and reduce costs.

Therapiva is a joint venture between Omnicare Drugs India Pvt Ltd and Laxai Life Sciences Pvt Ltd. Omnicare Drugs is a 100% subsidiary of Abu Dhabi-based Neopharma LLC.

Sanjay Sharma, Executive Vice President & Head, Global Manufacturing Operations, Dr Reddy’s Laboratories, said, "The divestiture of our API manufacturing business unit is a step towards streamlining our manufacturing operations and optimising our cost structures."

BR Shetty, Chairman of Neopharma LLC, Abu Dhabi, said, "This acquisition will augment Neopharma's vertical integration advantage and provide us with a high-quality manufacturing base in India. This is a key milestone in our acquisition strategy over the next few years to increase Neopharma’s presence in the global generics space."

Comment
image
Related opportunities
  • Car wash / Ceramic Coating / Detailing
    Auto Herb - a proven business opportunity in Car Cleaning..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 1000
    Franchise Outlets 20-50
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Beauty Salons
    Studio99 – Unisex Salons & Spa A journey from Coffee Shop..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • About Us: Associate with the leading brand in Olympiad Examination in..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Online Travel Services
    About Us: Founded in 2014, Idea Mantra Holidays is a destination..
    Locations looking for expansion Karnataka
    Establishment year 2004
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalotre Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities