Dr. Reddy’s to acquire eight ANDAs from Teva in US

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Hyderabad, June 11 (IANS) Dr. Reddy’s Laboratories has entered into a definitive agreement with Teva Pharmaceutical Industries Ltd. and an affiliate of Allergan Plc to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for $350 million in cash.

The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergana’s generics business, Dr. Reddy’s said in a statement.

The acquisition of these ANDAs is also contingent on the closing of the Teva/Allergan generics transaction and approval by the US 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 is also comprised of complex generic products across diverse dosage forms.

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“This transaction will add strength to our product portfolio, help us be more relevant in our US market and also create new opportunities for growth,” Co-Chairman and CEO of Dr. Reddy’s Laboratories, G.V. Prasad said.

“Dr. Reddy’s Laboratories has a strong track record in the US market with over 79 filed ANDAs pending approval, of which we believe 18 have first-to-file status. The acquisition of these attractive ANDAs from Teva will enhance our short-to-midterm aspirations and is consistent with our growth initiatives to identify inorganic opportunities to expand our base business,” Executive Vice President and Head of North America, Alok Sonig said.



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