Pharmaceutical major Dr. Reddy's Laboratories has informed that it has signed a global distribution agreement with a US-based specialty chemicals company, Albemade Corporation for Ibuprofen active pharmaceutical ingredient (API).

As per the agreement, Albemade shall supply Ibuprofen API from its Orangeburg Plant in South Carolina to Dr. Reddy's for distribution to its global client base.

Ibuprofen is used for relief from pain, fever, and inflammation and its market size is estimated at US$2.24 billion globally.

The agreement shall come into effect immediately. However further terms of the agreement were not disclosed by the companies.