BATON ROUGE, La., July 8 Specialty chemicalsmaker Albemarle Corporation (NYSE: ALB), a leading global manufacturer of theanti-inflammatory agent ibuprofen and other active pharmaceutical ingredients(APIs), has signed a global agreement with pharmaceutical company Dr. Reddy'sLaboratories Ltd. As per the agreement, effective immediately, Albemarle hasappointed Dr. Reddy's as a non-exclusive distributor of Albemarle's bulkibuprofen API. As part of the agreement, Dr. Reddy's will market, sell anddistribute Albemarle's ibuprofen API to Dr. Reddy's global client base. Inaddition, Albemarle will also supply Dr. Reddy's a substantial quantity of itsibuprofen API requirements for use in the company's generic ibuprofen tablets.
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"Albemarle has been manufacturing ibuprofen for more than 25 years with arecord of high quality, and the proven capacity to accommodate our significantvolumes. We are confident that by working with Albemarle, we will be able toaddress our global ibuprofen requirements," said Patrick Glaser, VicePresident of Dr. Reddy's North America Generics business.
"We are pleased to supply Dr. Reddy's with the volume and quality ofibuprofen they need to continue their efforts in the global prescriptiongeneric market," said Dave Clary, Vice President of Albemarle's Fine ChemistryServices (FCS) division, which manufactures ibuprofen in the company's FDA-inspected facility in Orangeburg, S.C. "We are also delighted to add them as adistributor for our bulk ibuprofen product. Dr. Reddy's is a growing player inthe world pharmaceutical industry, and we look forward to working with them inthe coming years."
Albemarle's FCS division makes and markets bulk and niche APIs for over-the-counter and prescription drugs, and provides custom manufacturing, R&D andother services to makers of pharmaceuticals, agricultural chemicals, specialtypolymers and other high-value industry sectors. The FCS division is part ofthe company's Fine Chemicals business segment.
Dr. Reddy's Laboratories conducts research in the areas of diabetes,obesity, cardiovascular diseases, anti-infectives, and inflammation. TheIndia-based company produces finished dosage forms, APIs, and biotechnologyproducts, which are marketed globally, with a focus on India, the UnitedStates, Europe, and Russia. Learn more about Dr Reddy's Labs athttp://www.drreddys.com.
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is aleading global developer, manufacturer and marketer of highly engineeredspecialty chemicals for consumer electronics; petroleum and petrochemicalprocessing; transportation and industrial products; pharmaceuticals;agricultural products; and construction and packaging materials. The Companyoperates in three business segments-Polymer Additives, Catalysts and FineChemicals, and serves customers in approximately 100 countries. Learn moreabout Albemarle at http://www.albemarle.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Actof 1995: Statements in this press release regarding Albemarle Corporation'sbusiness which are not historical facts are "forward-looking statements" thatinvolve risks and uncertainties. For a discussion of such risks anduncertainties, which could cause actual results to differ from those containedin the forward-looking statements, see "Risk Factors" in the Company's AnnualReport on Form 10-K.
SOURCE Albemarle Corporation