 "reddy, dr reddy's")
Dr Reddy's Laboratories Limited on Monday announced that it has entered into a definitive agreement for the sale of its active pharmaceutical ingredients(API) manufacturing business unit located in Jeedimetla, Hyderabad, to Therapiva Private Limited. This divestiture is being done by way of slump sale and includes all related fixed assets, current assets and current liabilities, and its employees, according to the company.
"The divestiture of our API manufacturing business unit is a step towards streamlining our manufacturing operations and optimising our cost structures," said Sanjay Sharma, executive vice president and head, global manufacturing operations at Dr Reddy's.
Therapiva Private Limited
