scorecardresearch
Thursday, Oct 06, 2022

Dr Reddy’s acquires GSK’s US facility

Dr Reddy's Laboratories has acquired GlaxoSmithKline's penicillin manufacturing facility.

Dr Reddy’s Laboratories today said it has acquired GlaxoSmithKline’s US penicillin manufacturing facility and the rights to the Augmentin (anti-biotic) and Amoxil brands in the United States for an undisclosed sum.

“GSK will retain the existing rights of these brands outside the United States,” Dr Reddy’s said in a filing to the Bombay Stock Exchange (BSE).

The acquisition of the oral pencillin manufacturing facility in Bristol and product portfolio was completed yesterday and is pursuant to the agreement signed by the companies on November 23,2010,it added.

The company,however,did not disclose the financial terms and conditions of the transaction.

Subscriber Only Stories
Remembering Indian tennis great, Naresh Kumar, who passed away on Septemb...Premium
How Carlsen would need to cheat just once in a game of chess to be invinc...Premium
IAS officer’s initiative scales up students’ learning level in Sangli sch...Premium
Rising rates after four repo hikes: Turbulent times ahead for home loan s...Premium

Brands Augmentin and Amoxil,which are used for treating bacterial infections,are trademarks of GlaxoSmithKline.

Shares of Dr Reddy’s were being quoted at Rs 1,628.50 apiece in afternoon trade on the BSE today,up 2.21 per cent from their previous close.

First published on: 30-03-2011 at 01:15:27 pm
Next Story

Pak hardliner escapes assassination bid; 7 others killed

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement