Dr Reddy's Laboratories has entered into a definitive agreement with Dow Chemical Company to acquire a portion of Dowpharma Small Molecules business associated with its United Kingdom sites in Mirfield and Cambridge.
The financial terms and conditions of the transaction are not being disclosed at this point in time. The transaction is scheduled to close on April 30, 2008 pending regulatory approval.
The acquisition will include the relevant business, customer contracts, associated products, process technology, intellectual property, trademarks as well as the transfer of the facilities at Mirfield and Cambridge in the UK. The two sites and the business employ around 80 people. Dr. Reddy's will also have a non-exclusive license to Dow's Pfenex Expression Technology for biocatalysis development.
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