BASF to sell US pharma plant to Dr Reddy’s

29 April 2008 22:29  [Source: ICIS news]

HOUSTON (ICIS news)--German chemical major BASF has agreed to sell a finished-pharmaceuticals plant in Shreveport, Louisiana, to India's Dr Reddy's Laboratories, the company said on Tuesday.

The deal includes the plant's related contract manufacturing business, BASF said.

The sale should close on 30 April. The companies will not disclose financial details.

About 150 employees will transfer from BASF to Dr. Reddy's.

BASF's plant makes and packages prescription and over-the-counter pharmaceuticals, the company said.

BASF said it is selling the site and its related business so it can concentrate on the core businesses of its care-chemicals division. The segment includes custom-synthesis services, excipients and active pharmaceutical ingredients (API).

By: Al Greenwood
+1 713 525 2653

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