Dr. Reddy’s Laboratories Announces the Sale of Its API Manufacturing Business Unit in Jeedimetla, Hyderabad

HYDERABAD, India–(BUSINESS WIRE)–Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY,
along with its subsidiaries together referred to as “Dr. Reddy’s”) today
announced that it has entered into a definitive agreement for the sale
of its API manufacturing business unit located in Jeedimetla, Hyderabad,
to Therapiva Private Ltd., an emerging generics pharmaceutical
company. This divestiture is being done by way of slump sale (as a going
concern) and includes all related fixed assets (land and building),
current assets, current liabilities, and its employees.

“The divestiture of our API manufacturing business unit is a step
towards streamlining our manufacturing operations and optimizing our
cost structures,” said Sanjay Sharma, Executive Vice President & Head,
Global Manufacturing Operations. “We are confident that we have found in
Therapiva, a buyer-partner who fully understands and appreciates the
business unit and its people as a powerful strategic asset.”

Therapiva Private Limited is a joint venture between Omnicare Drugs
India Private Limited (100% subsidiary of Neopharma LLC, Abu Dhabi) and
Laxai Life Sciences Private Ltd.

“This acquisition represents a unique opportunity to further strengthen
Therapiva’s position as a premier supplier of APIs. There is a strong
cultural fit between our companies and we are excited to welcome the
employees of Dr. Reddy’s to accelerate our ambitious growth plans,” said
Vamsi Maddipatla, CEO of Therapiva and Laxai Life Sciences.

“We are very excited with this acquisition which will augment
Neopharma’s vertical integration advantage and provide us with a high
quality manufacturing base in India. This is a key milestone in our
acquisition strategy over the next few years to increase Neopharma’s
presence in the global generics space,” said BR Shetty, Chairman of
Neopharma LLC, Abu Dhabi.

About Dr. Reddy’s: Dr. Reddy’s Laboratories Ltd. (BSE: 500124,
NSE: DRREDDY, NYSE: RDY) is an integrated pharmaceutical company
committed to providing affordable and innovative medicines for healthier
lives. Through its three businesses – Pharmaceutical Services & Active
Ingredients, Global Generics, and Proprietary Products – Dr. Reddy’s
offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars, and differentiated
formulations. Our major therapeutic areas of focus are gastrointestinal,
cardiovascular, diabetology, oncology, pain management, and dermatology.
Dr. Reddy’s operates in markets across the globe. Our major markets
include – USA, India, Russia & CIS countries, and Europe. For more
information, log on to: www.drreddys.com.

About Therapiva: Therapiva Private Limited (the Company), based
out of Hyderabad, is a joint venture between Omnicare Drugs India
Private Limited (100% subsidiary of BR Shetty-owned Neopharma LLC, Abu
Dhabi) and Laxai Life Sciences Private Ltd. Therapiva is an emerging
generics pharmaceutical company backed by a strong and innovative R&D
facility and a world-class API manufacturing facility. It has a robust
product portfolio spread across various therapeutic areas, capable of
handling new, complex, and hazardous reactions. http://therapiva.net/

Disclaimer: This press release may include statements of future
expectations and other forward-looking statements that are based on the
management’s current views and assumptions and involve known or unknown
risks and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. In addition to statements which are forward-looking by
reason of context, the words “may”, “will”, “should”, “expects”,
“plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”,
“potential”, or “continue” and similar expressions identify
forward-looking statements. Actual results, performance or events may
differ materially from those in such statements due to without
limitation, (i) general economic conditions such as performance of
financial markets, credit defaults , currency exchange rates , interest
rates , persistency levels and frequency / severity of insured loss
events (ii) mortality and morbidity levels and trends, (iii) changing
levels of competition and general competitive factors, (iv) changes in
laws and regulations and in the policies of central banks and/or
governments, (v) the impact of acquisitions or reorganization ,
including related integration issues.

The company assumes no obligation to update any information contained


Dr. Reddy’s Laboratories Ltd.