The company has entered into a definitive agreement to acquire Roche's bulk drug business, which involves the manufacture and sale of active pharmaceutical ingredients including intermediates to Roche and other investor companies, Dr Reddy's informed the Stock Exchanges.
The product portfolio currently comprises about 18 products including mature APIs and a range of intermediates and steroids.
The Cuernavaca site at Mexico currently employs nearly 340 people and has been inspected by the USFDA and other international regulatory agencies, it said.
"With the acquisition of Roche's API business at the Mexico site, Dr Reddy's will emerge as a leading player in custom pharmaceutical services business and position itself as a partner of choice for innovator companies across the globe with service offerings spanning the entire value chain of pharmaceutical services," Dr Reddy's, CEO, GV Prasad said.
The acquisition is expected to be completed by the end of December 2005, it added.
