BATON ROUGE, La., July 8 /PRNewswire-FirstCall/ -- Specialty chemicals maker Albemarle Corporation (NYSE: ALB), a leading global manufacturer of the anti-inflammatory agent ibuprofen and other active pharmaceutical ingredients (APIs), has signed a global agreement with pharmaceutical company Dr. Reddy's Laboratories Ltd. As per the agreement, effective immediately, Albemarle has appointed Dr. Reddy's as a non-exclusive distributor of Albemarle's bulk ibuprofen API. As part of the agreement, Dr. Reddy's will market, sell and distribute Albemarle's ibuprofen API to Dr. Reddy's global client base. In addition, Albemarle will also supply Dr. Reddy's a substantial quantity of its ibuprofen 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 a record of high quality, and the proven capacity to accommodate our significant volumes. We are confident that by working with Albemarle, we will be able to address our global ibuprofen requirements," said Patrick Glaser, Vice President of Dr. Reddy's North America Generics business.
"We are pleased to supply Dr. Reddy's with the volume and quality of ibuprofen they need to continue their efforts in the global prescription generic market," said Dave Clary, Vice President of Albemarle's Fine Chemistry Services (FCS) division, which manufactures ibuprofen in the company's FDA- inspected facility in Orangeburg, S.C. "We are also delighted to add them as a distributor for our bulk ibuprofen product. Dr. Reddy's is a growing player in the world pharmaceutical industry, and we look forward to working with them in the 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 and other services to makers of pharmaceuticals, agricultural chemicals, specialty polymers and other high-value industry sectors. The FCS division is part of the company's Fine Chemicals business segment.
Dr. Reddy's Laboratories conducts research in the areas of diabetes, obesity, cardiovascular diseases, anti-infectives, and inflammation. The India-based company produces finished dosage forms, APIs, and biotechnology products, which are marketed globally, with a focus on India, the United States, Europe, and Russia. Learn more about Dr Reddy's Labs at http://www.drreddys.com.
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; and construction and packaging materials. The Company operates in three business segments-Polymer Additives, Catalysts and Fine Chemicals, and serves customers in approximately 100 countries. Learn more about Albemarle at http://www.albemarle.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
SOURCE Albemarle Corporation