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Pharmaceutical Chemicals

Dr. Reddy’s sells plants in India and Tennessee

by Jean-François Tremblay
October 27, 2018 | A version of this story appeared in Volume 96, Issue 43

 

Dr. Reddy’s Laboratories has sold manufacturing facilities in Hyderabad, India, and Bristol, Tenn. The buyer of the plant in India, which produces active pharmaceutical ingredients, is a joint venture of India’s Laxai Life Sciences and Abu Dhabi-based Neopharma. Neopharma is the sole buyer of the facility in Tennessee, which produces amoxicillin-based antibiotics. Dr. Reddy’s profits have declined in the past two years, primarily because of price pressure. The generic drugmaker has also struggled with product quality in the U.S.

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