BASF has signed an agreement to sell its manufacturing facility in
The agreement includes the sale of the related contract manufacturing business for finished pharmaceuticals and the transfer of 150 employees from BASF to Dr Reddy’s Laboratories
BASF says it is selling the site and related business in order to concentrate on core businesses in its Care Chemicals division, which include custom synthesis services, excipients and active ingredients for the pharmaceuticals industry.
‘BASF’s contract manufacturing activity for finished pharmaceuticals is limited to North America and not linked to the technological growth areas of the company’s Pharma Ingredients and Services business,’ said Martin Widmann, head of BASF’s Pharma Ingredients and Services global business unit. ‘We assessed a variety of strategic options, but ultimately concluded that a divestiture is the best scenario not only for BASF but also for the future of the