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Dr Reddy's sells Goa unit

Hyderabad-based pharma major Dr Reddy's Laboratories has sold off its manufacturing plant in Goa to US pharma company Watson Pharmaceuticals Inc for an undisclosed sum.

The financial details cannot be shared because of the confidentiality clause, the spokesperson said, adding that the USFDA approved site at Goa was used for manufacturing generic solid dosages formulations for export to the US market.

The company's move to sell off its Goa plant is a part of its strategy to reasses formulations manufacturing keeping the taxation strategy in mind.
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