Dr Reddy's Labs sells 14 ANDAs to Senores Pharma
The acquisition will be funded through the Initial Public Offer proceeds raised by Senores Pharmaceuticals Limited.
Ahmedabad: Senores Pharmaceuticals Limited, through its wholly-owned subsidiary Senores Pharmaceuticals, Inc., USA, has signed agreements today to acquire a basket of 14 Abbreviated New Drug Applications (‘ANDAs’) from Dr.Reddy’s Laboratories and its applicable affiliates.
The basket acquired, comprises of 13 ANDAs, which are approved by the USFDA and 1 ANDA, which is pending approval from the USFDA.
The addressable opportunity of the acquired ANDAs in the USA is approx. USD 421 Million (MAT December 2024)* as per IQVIA and ~ approx USD 1.13 Billion (MAT September 2024)# as per the specialty data aggregator Symphony.
The acquisition will be funded through the Initial Public Offer (“IPO”) proceeds raised by Senores Pharmaceuticals Limited. This is in line with the Objects of the IPO stated in the Red Herring Prospectus.
Commenting on the acquisition, Mr. Swapnil Shah, Managing Director, Senores Pharmaceuticals Limited said, “We are glad to announce the acquisition of a basket of products from Dr Reddy's. It spans across various therapeutic areas with growing consumption. The portfolio consists of controlled substances and general category of products. These products can be distributed through multiple/diverse channels, with large requirements in government, retail and specialty clinics. This Portfolio of products significantly increases our products offering in the US, and also it has a significant value in other Regulated and Semi-Regulated markets of the world.”
Established in 1984, Dr. Reddy’s Laboratories Ltd. is a global pharmaceutical company headquartered in Hyderabad, India. The Company offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr Reddy's Labs major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe.
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