Neopharma buys Dr. Reddy Labs’ US unit

dubai – The UAE’ largest pharmaceutical manufacturer, Neopharma, on Saturday said that it had fully acquired an antibiotic manufacturing facility and its related assets in Bristol, Tennessee, in the US from Dr. Reddy’s Laboratories.

The Bristol site has had a long history first with British drug maker GlaxoSmithKline and then with Dr. Reddy’s in manufacturing the brands Augmentin and Amoxil. The sale will enable the facility to continue providing oral penicillin-containing antibacterial products to patients in the United States.

The 390,000sqft facility is dedicated to manufacturing and packaging oral-solid dose penicillin and has separate spaces for other processes, the company said in a statement on Saturday.

The company didn’t disclose the amount of the acquisition.

Dr. B.R. Shetty, chairman of Neopharma, said this acquisition follows similar moves made in Japan, Brazil and India and is a part of the global expansion drive for Neopharma, which is rapidly establishing itself as a global manufacturer of quality medications at affordable prices. “The acquisition will strengthen the UAE’s presence in the global pharma space,” he added.

Suresh Kumar Nandiraju, chief operating officer of Neopharma, said: “This acquisition allows the firm to enter the United States penicillin-containing antibiotic market segment and marks our entry into the generic drug business in the US.”