Dr. Reddy’s, an Indian pharmaceutical company, has sold a portfolio of 14 Abbreviated New Drug Applications (ANDAs) to Ahmedabad-based Senores Pharmaceuticals. The acquired portfolio consists of 13 already approved ANDAs by the US Food and Drug Administration (FDA) and one pending approval. The market value of these ANDAs in the US is estimated to be between $421 million and $1.13 billion. Senores plans to fund the acquisition through proceeds from its upcoming initial public offering (IPO).
The acquired portfolio includes controlled substances and general category drugs that cater to demand across government, retail, and specialty clinics. Senores also sees strong growth potential in other regulated and semi-regulated markets worldwide. Dr. Reddy’s considers the products to be generic non-strategic assets.
The acquisition is a significant move for Senores, as it aims to expand its presence in the global generics market. The company plans to leverage the acquired portfolio to tap into new markets and further its growth trajectory.
It’s worth noting that Dr. Reddy’s has been streamlining its operations and focusing on its core products, which may have led to the divestment of this portfolio. The company has a history of acquiring and selling off non-core assets to focus on key areas of growth.
In related news, Dr. Reddy’s has been involved in several other transactions, including the settlement of a dispute with Impax over the generic version of Rytary. The company has also launched a generic version of Stromectol in partnership with Senores Pharmaceuticals. Overall, the sale of the ANDA portfolio is a significant move for Dr. Reddy’s, and it will be interesting to see how it impacts the company’s future growth and operations.