The former Dr. Reddy’s Laboratories pharmaceutical manufacturing site in Shreveport, Louisiana, is now up for sale. The 56-acre property, which was once home to 107 employees, was sold to Jaguar Labs Holdings, LLC, an affiliate of Ten Oaks Group. Realtor Chris Stokes, who has the exclusive listing on the property, says it’s an ideal location for a new pharmaceutical company or other businesses.
Stokes notes that the facility, which spans 308,000 square feet, has remained largely intact, with rows of equipment, warehouses filled with materials, and industrial pharmaceutical equipment still in place. The property is also equipped with 24-hour security and is climate-controlled, making it an attractive option for potential buyers.
The asking price for the facility is $18 million, which includes all the equipment and fixtures. However, Stokes notes that the price could drop if the buyer does not need all the items. Additionally, the facility’s 80-90 FDA licenses to manufacture different drugs can be purchased separately, making it an attractive option for pharmaceutical companies.
Stokes has reached out to several potential buyers, including pharmaceutical manufacturers and companies that make products with THC. He has also contacted Sen. Bill Cassidy, House Speaker Mike Johnson, and Louisiana economic development officials to spread the word about the facility.
The sale of the facility is seen as a opportunity to bring back a functioning pharmaceutical manufacturer to the area, which could benefit the local community, including LSU Medical Center. As Stokes notes, the facility is set up to meet the needs of the local scientific community, and a new pharmaceutical manufacturer could help create jobs and drive economic growth in the area.