Dr. Reddy’s to buy product portfolio from TEVA for U.S. for $350mStaff writer ▼ | June 13, 2016
Dr. Reddy’s Laboratories has entered into an agreement with Teva Pharmaceutical Industries and an affiliate of Allergan to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the U.S. for $350 million in cash.
Acquisition Entering into $3.5 billion market
The acquisition of these ANDAs is also contingent on the closing of the Teva/Allergan generics transaction and approval by the U.S. Federal Trade Commission of Dr. Reddy’s as a buyer.
The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA, and comprised of complex generic products across diverse dosage forms.
The combined sales of the branded versions of the products in the U.S. is approximately $3.5 billion MAT for the most recent twelve months ending in April 2016 according to IMS Health.
Dr. Reddy’s Laboratories is acquiring the portfolio on a cash-free, debt-free basis and expects to finance the transaction using a combination of cash on hand and available borrowings under existing credit facilities. ■