Dr Reddy's sells US antibiotics manufacturing facility to UAE's Neopharma

The plant and associated facilities focus on manufacturing or packaging Amoxicillin-based products, which include semi-synthetic penicillin

Dr Reddy’s Laboratories has sold the antibiotics manufacturing facility and related assets it had acquired in Bristol, Tennessee, from GlaxoSmithKline (GSK) seven years ago.  

On Monday, Dr Reddy’s announced the closure of the sale of this facility to United Arab Emirates-based Neopharma. “The sale is in line with our stated priority to streamline and optimise our global cost structures and help us focus on other business priorities to drive growth,” said Erez Israeli, chief operating officer (COO). Financial details of the sale were not disclosed. 

The Hyderabad-based company had taken steps on cost control in recent times, particularly after Israeli came in