Dr Reddy's to buy BASF drug contract manufact unit

BANGALORE, April 30 (Reuters) - Indian drugmaker Dr Reddy's Laboratories Ltd (REDY.BO: Quote, Profile, Research, Stock Buzz) said on Wednesday it had agreed to acquire BASF's (BASF.DE: Quote, Profile, Research, Stock Buzz) drug contract manufacturing business and a related facility in the United States for an undisclosed amount.

The Hyderabad-based company said the deal was likely to be completed by June, subject to regulatory approvals.

BASF's contract manufacturing business makes generic prescription and over-the-counter products for branded and generic companies in the United States, Dr Reddy's said in a statement.

The business had revenue of $43 million in 2007, it said.

"The acquisition ... will enable us to strengthen our supply chain for North America and provide a strong platform for pursuing additional growth opportunities," Satish Reddy, managing director of Dr Reddy's (RDY.N: Quote, Profile, Research, Stock Buzz), said in the statement. (Reporting by Sumeet Chatterjee; Editing by John Mair)