Dr. Reddy's Laboratories announces the sale of its API manufacturing business unit in Jeedimetla, Hyderabad


Hyderabad, India,  Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE:
DRREDDY, NYSE: RDY along with its subsidiaries together referred to as “Dr. Reddy’s”) today
announced that it has entered into a definitive agreement for the sale of its API manufacturing
business unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd, an emerging generics
pharmaceutical company. This divestiture is being done by way of slump sale (as a going concern)
and includes all related fixed assets (land and building), current assets, current liabilities, and its
employees.
“The divestiture of our API manufacturing business unit is a step towards streamlining our
manufacturing operations and optimizing our cost structures,” said Sanjay Sharma, Executive Vice
President & Head, Global Manufacturing Operations. “We are confident that we have found in
Therapiva, a buyer-partner who fully understands and appreciates the business unit and its people
as a powerful strategic asset.”
Therapiva Private Limited is a joint venture between Omnicare Drugs India Private Limited (100%
subsidiary of Neopharma LLC, Abu Dhabi) and Laxai Life Sciences Private Ltd.
“This acquisition represents a unique opportunity to further strengthen Therapiva’s position as a
premier supplier of APIs. There is a strong cultural fit between our companies and we are excited to
welcome the employees of Dr. Reddy’s to accelerate our ambitious growth plans.” said Vamsi
Maddipatla, CEO of Therapiva and Laxai Life Sciences.
“We are very excited with this acquisition which 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” said BR Shetty, Chairman of Neopharma LLC, Abu Dhabi
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About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company,
committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services & Active
Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal,
cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy’s operates in markets across the globe. Our major markets
include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com
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About Therapiva : Therapiva Private Limited (the Company), based out of Hyderabad, is a joint venture between Omnicare Drugs India Private
Limited (100% subsidiary of BR Shetty owned Neopharma LLC, Abu Dhabi) and Laxai Life Sciences Private Ltd. Therapiva is an emerging
generics pharmaceutical company backed by a strong and innovative R&D facility and a world-class API manufacturing facility. It has a robust
product portfolio spread across various therapeutic areas, capable of handling new, complex and hazardous reactions. http://therapiva.net/
Disclaimer: This press release may include statements of future expectations and other forward-looking statements that are based on the
management’s current views and assumptions and involve known or unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking
by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or
“continue” and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in
such statements due to without limitation, (i) general economic conditions such as performance of financial markets, credit defaults , currency
exchange rates , interest rates , persistency levels and frequency / severity of insured loss events (ii) mortality and morbidity levels and trends, (iii)
changing levels of competition and general competitive factors, (iv) changes in laws and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization , including related integration issues.
The company assumes no obligation to update any information contained herein.

Shiwani Sharma

Shiwani Sharma was Senior Editor at PharmaShots. She has in-depth knowledge of the life sciences industry including the Pharma and Biotech sectors. Any articles written by her can be contacted at connect@pharmashots.com.

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