HYDERABAD, India A generic drug maker has entered an agreement to purchase another drug maker's U.S. penicillin site.
Dr. Reddy's and GlaxoSmithKline have inked a deal in which GSK will transfer ownership of its penicillin manufacturing site in Bristol, Tenn., and rights for the Augmentin and Amoxil brands in the United States to Dr. Reddy’s, an India-based drug maker.
This transaction is expected to close within the first half of calendar year 2011. Further financial terms and conditions of the agreement were not disclosed.
