Dr. Reddy's Announces Completion of the Acquisition of US Penicillin Facility and Products from GlaxoSmithKline

Dr. Reddy's Laboratories RDY today announced the completion of the acquisition of GlaxoSmithKline's GSK United States oral penicillin facility and product portfolio pursuant to the agreement signed and announced by the companies on Nov 23, 2010. As a result of the acquisition, Dr. Reddy's assumes the ownership of the penicillin manufacturing site in Bristol, Tennessee, United States, and rights for the Augmentin and Amoxil brands in the United States. GSK will retain the existing rights for these brands outside the United States. Further financial terms and conditions of the transaction are not being disclosed.