26. November 2010 14:09
GSK has agreed a deal with Dr. Reddy’s Laboratories for its US penicillin manufacturing site and product portfolio.
The US rights for the Augmentin and Amoxil brands will be transferred by GSK under the terms of the agreement.
Jean-Paul Reynaud, Senior Vice President, Antibiotics and Emerging Markets Supply, said the site has had “a long and successful history with GSK” but the sale will enable them “to focus resources on our newer portfolio of differentiated products”.
GSK will retain the existing rights for the two brands outside the US.
Dr. Reddy’s said the acquisition would allow the company to enter the US penicillin-containing antibacterial market.
“This acquisition is in line with our strategy to significantly scale up our generics business in North America while providing an opportunity to explore additional synergy with our other businesses,” said Abhijit Mukherjee, President and Head Global Generics Business, Dr. Reddy’s Laboratories.
Established in 1984, Dr. Reddy’s is a global pharmaceutical company.