Dr. Reddy's Laboratories announces acquisition of ANDA portfolio
- Post By : Kumar Jeetendra
- Source: MBI
- Date: 13 April, 2019
Hyderabad, India and Princeton, NJ, USA. April 13,2019- Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as “Dr. Reddy’s”) announced todaythat it has entered into a definitive agreement to acquire aportfolio of 42 approved,non-marketed Abbreviated New Drug Applications (ANDAs) in the U.S.
The portfolio includes more than 30 generic injectable products. These products will require to be technology transferred and could be launched within the next one to two years. The value oftotal addressable marketfortheseproductsin the U.S. is approximately $645 million for the calendar year ending in December 2018 according to IQVIA.
Erez Israeli, Chief Operating Officer of Dr. Reddy’s Laboratories, commented, “The acquisition is in line with our stated strategy to significantly enhance our portfolioin our chosen growth markets.This transaction will help augment our injectables product portfolio in the U.S. market and globally.”