Hyderabad: Drug firm Dr Reddy's Lab (DRL) on Thursday said it will hive off its drug discovery business to a wholly-owned subsidiary, Aurigene, and
will close the Atlanta Research facility in the US. From July 1, 2009 onwards, all the resources used for drug discovery business including employees, facility and infrastructure will be transferred to Bangalore-based Aurigene, DRL said in a statement. "Aurigene, a wholly-owned subsidiary of Dr Reddy's Lab will now operate out of two sites Bangalore and Hyderabad," the company said. Besides this, Dr Reddy's would also create a new group to focus on proprietary products development, which will be responsible for building branded research and development portfolio in collaboration with various partners and service providers. All the existing intellectual property rights will be owned and managed by the new unit, the company said. As a part of the reorganisation, the company will close its Atlanta-based research facility in US, it added.
will close the Atlanta Research facility in the US. From July 1, 2009 onwards, all the resources used for drug discovery business including employees, facility and infrastructure will be transferred to Bangalore-based Aurigene, DRL said in a statement. "Aurigene, a wholly-owned subsidiary of Dr Reddy's Lab will now operate out of two sites Bangalore and Hyderabad," the company said. Besides this, Dr Reddy's would also create a new group to focus on proprietary products development, which will be responsible for building branded research and development portfolio in collaboration with various partners and service providers. All the existing intellectual property rights will be owned and managed by the new unit, the company said. As a part of the reorganisation, the company will close its Atlanta-based research facility in US, it added.
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