Senores Pharmaceuticals, a company, has announced that it will acquire 14 Abbreviated New Drug Applications (ANDAs) from Dr. Reddy’s Laboratories. The acquisition includes 13 ANDAs that have already received approval from the US Food and Drug Administration (USFDA) and one that is still pending. The financial details of the deal have not been disclosed.
The acquired drug portfolio is valued at $421 million in the US market, according to market research company, IQVIA. The company plans to fund the acquisition using proceeds from its initial public offering (IPO), as outlined in its Red Herring Prospectus.
The acquired molecules cover a range of therapeutic areas, including controlled substances and general pharmaceutical products. The portfolio also caters to different distribution channels, including government programs, retail markets, and specialty clinics.
Managing Director Swapnil Shah of Senores Pharmaceuticals noted that the portfolio expansion offers significant value in the US and other regulated and semi-regulated markets. This development is in line with the company’s objectives to provide a diverse range of products to customers.