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India-Based Pharmaceutical Company Investing $16.5 Million for Louisiana Expansion

12/08/2009
Dr. Reddy's Laboratories, an India-based manufacturer of generic pharmaceutical products, will invest US$16.5 million to expand its operations in Shreveport, Louisiana, according to the Louisiana governor's office. The company plans to create 73 new jobs at an average annual salary of $37,000 plus benefits. The 300,000-square-foot Shreveport plant is the largest producer of silver sulfadiazine cream, a topical burn remedy, and the second-largest producer of the pain reliever ibuprofen in the North American market. "Our plans to expand the scope and scale of our Shreveport facility are driven by the combination of several factors -- the strategic fit of the products and capabilities of the site with our corporate objectives, the work ethic of the people of North Louisiana, as well as the incentives put forth at both the state and local levels, among other considerations," says Amit Patel, head of North American Generics for Dr. Reddy's. The state has offered the company an incentives package that includes $2.1 million for capital expenditures; the city will provide waivers for all city permit fees and a 2.75 percent rebate of local sales taxes.

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