Dr Reddy's to acquire Dowpharma unit

Dr Reddy's to acquire Dowpharma UK units

India's Dr Reddy's Laboratories has entered into a definitive deal with Dow Chemical to acquire a portion of its Dowpharma Small Molecules business associated with UK sites in Mirfield and Cambridge. Financial terms and conditions of the transaction, which is scheduled to close on April 30, pending regulatory approval, are not being revealed at this time.

The acquisition will include the relevant business, customer contracts, associated products, process technology, intellectual property and trade marks, as well as the transfer of the facilities at Mirfield and Cambridge. The two sites and the business employ about 80 people. Satish Reddy, chief operating officer at Dr Reddy's, said that "the proprietary chiral and biocatalysis technology at the Cambridge site and the scale up capability in the Mirfield site will add significant value to the company... and bring strengths in industrial synthesis of complex prostaglandins and carbohydrate chemistry."