Dr Reddy's expands injectable portfolio with acquisition of 42 ANDAs in US
This transaction will help augment Dr Reddy's Labs injectables product portfolio in the U.S. market and globally.
Hyderabad: Dr Reddy's Laboratories has signed a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the United States.
The portfolio includes more than 30 generic injectable products. These products will require technology transfers and could be launched in the next one or two years.
"The acquisition is in line with our stated strategy to significantly enhance our portfolio in our chosen growth markets," said company's Chief Executive Officer Erez Israeli.
"This transaction will help augment our injectables product portfolio in the U.S. market and globally," he added.
The value of total addressable market for these products in the United States was about 645 million dollars (about Rs 4,470 crore) last calendar year, according to IQVIA.
IQVIA, earlier known as Quintiles and IMS Health Inc, is an American multinational company serving the combined industries of health information technologies and clinical research.