Dr. Reddy’s have finalized the details of the sale of its antibiotic manufacturing facility and related assets in Bristol, Tennessee to the Abu Dhabi-based Neopharma. Dr. Reddy’s sold all the issued and outstanding membership interests in Dr. Reddy’s Laboratories Tennessee, LLC and certain related assets.
The plant and associated facilities focus on manufacturing or packaging amoxicillin-based products, which include a semi-synthetic penicillin. The 390,000-square-foot facility is dedicated to secondary oral-solid dose penicillin manufacturing/packaging and includes processing, packaging, development, printing and warehouse spaces. A separate 24,000-square-foot plastics-processing facility in Bristol is also included in the transaction.
Neopharma is one of the largest pharmaceutical company in the MENA region with presence in more than 50 countries.
"This acquisition is synergetic and will strengthen our product portfolio for driving long-term, sustainable growth by leveraging our global presence," said Suresh Nandiraju, chief operating officer of Neopharma.
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