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
  • Precious Jewellery
    About Us:   N. K. Chains Private Limited has earned a huge..
    Locations looking for expansion Uttar pradesh
    Establishment year 1999
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater NOIDA Uttar pradesh
  • Others Food Service
    About : Everyday Anday was founded by Ms. Rashmi Joshi, with..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 450
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Sweetshop
    About Us: Chhappan Bhog is a reputed name in premium quality..
    Locations looking for expansion West bengal
    Establishment year 1981
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Sports Equipment Stores
    About Us: With its Headquarters in Chandigarh, Playmart India Pvt. Ltd. is..
    Locations looking for expansion Chandigarh
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 20lac - 30lac
    Space required 500 - 1000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater chandigarh Chandigarh
Insta-Subscribe to
Entrepreneur
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