Dr. Reddy's Laboratories has signed a definitive agreement to acquire BASF's pharmaceutical contract manufacturing business and related facility in Shreveport, Louisiana, USA for an undisclosed amount.
The deal is likely to be completed within the first quarter of fiscal year 2008-09, subject to customary closing conditions. The transaction will be funded using Dr. Reddy's internal cash reserves or other committed credit facilities, the Hyderabad-based company said in a press statement.
This business involves the contract manufacturing of generic prescription and over-the-counter products for branded and generic companies in the US. It recorded revenues of US $43 million for the year ended December 31, 2007.
The details can be read here.
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