Dr Reddy's acquires GSK's US penicillin manufacturing facility
30 Mar 2011
Dr Reddy's Laboratories has acquired GlaxoSmithKline's US penicillin manufacturing facility and the rights to the Augmentin and Amoxil brands in the US for an undisclosed amount.
The brands are used in the treatment of infections and are trademarks of GlaxoSmithKline.
"GSK will retain the existing rights of these brands outside the United States," Dr Reddy's said in a filing with the Bombay Stock Exchange (BSE).
The acquisition of the oral penicillin manufacturing facility in Bristol, along with the product portfolio, was completed yesterday following an agreement signed between the two companies on 23 November 2010, Dr Reddy's said.
Shares of Dr Reddy's were up 2.21 per cent at Rs1,628.50 from their previous close today afternoon.
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