Dr Reddy’s expands its R&D centre in Cambridge, United Kingdom
Hyderabad, India and Cambridge, UK, April 11, 2011: Dr. Reddy’s Laboratories (NYSE: RDY) today announced the opening of its newly expanded Chirotech Technology Centre at Cambridge Science Park, UK where Chirotech has been based for the last 20 years. The new 33,000 sq ft facility is purpose built for laboratories and offices and has been fitted to Dr. Reddy’s specific requirements for chemistry, biology and analytics.
The additional capacity will help facilitate an initial doubling of scientific staff in Chirotech while providing for further capacity additions in future. It will help strengthen core capabilities in biocatalysis and chemocatalysis, build capabilities in fast growing segments like Activated mPEGs and peptides, and allow development of other areas of expertise in chemistry and processing for use in the pharmaceutical industry.
The new facility is part of the Custom Pharmaceutical Services (CPS) Business Unit of Dr. Reddy’s and will offer these expanded services to its customers worldwide.
Dr. Reddy's was assisted in setting up the new facility by East of England Investor Development (EEID*), the regional body that supports overseas investors in the region, funded by the East of England Development Agency.
Commenting on the expansion, G V Prasad - Vice Chairman and CEO, Dr. Reddy’s said, “We are delighted to have secured this excellent facility at the Cambridge Science Park. Being located in this historic University City and in one of the leading European centres for Science and Innovation makes it the ideal location to expand and develop our research, development and technology capabilities. The facility will be a centre of excellence for chemistry and reinforces our commitment to building a leading edge research organization to meet the innovation needs of our customers.”
* EEID is an outsourced organization which delivers inward investment and development support on behalf of the East of England Development Agency (EEDA) and UK Trade & Investment.
This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.
About Dr. Reddy’s
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand. For more information, log on to: www.drreddys.com
For more information please contact:
S Rajan at firstname.lastname@example.org / +91-40-66511725
Investors and Financial Analysts:
Kedar Upadhye at email@example.com / +91-40-66834297
Raghavender R at firstname.lastname@example.org / +91-40-66511529
Milan Kalawadia (USA) at email@example.com / +1 908-203-4931