Dr. Reddy’s plans to purchase a segment of Dowpharma’s small molecule business. Dr. Reddy’s also gains a nonexclusive license to Dow’s Pfenex Expression Technology™ for biocatalysis development. The agreements will give Dr. Reddy’s expanded capabilities to provide custom pharmaceutical services.
The acquisition includes facilities in Mirfield and Cambridge, which are both in the U.K. “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,” points out Satish Reddy, managing director and COO. “This acquisition will also bring strengths in industrial synthesis of complex prostaglandins and carbohydrate chemistry.”
The transaction is scheduled to close on April 30. Dr. Reddy’s will gain business, customer contracts, associated products, process technology, intellectual property, trademarks, and the transfer of the U.K. centers.