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.
Satish Reddy, managing director and COO of Dr Reddy’s, said: The proprietary chiral and biocatalysis technology at the Cambridge site and the scale up capability in the Mirfield site will add significant value to the company. This acquisition will also bring strengths in industrial synthesis of complex prostaglandins and carbohydrate chemistry.