Dr Reddy’s Acquired Mayne Pharma’s USA Prescription Portfolio

Business Healthcare

Dr. Reddy’s Laboratories (DRL) has agreed to buy Mayne Pharma Group’s US generic prescription product portfolio for $90 million up front and up to $15 million in contingent payments.

The acquisition will add limited competition products to DRL’s US retail prescription pharmaceutical business. According to IQVIA, the total addressable market in the United States for pipeline and approved non-marketed products will be worth approximately $3.6 billion in the year 2022.

There are roughly 45 commercial products, four pipeline products, and 40 approved non-marketed products in the portfolio. Several of these generic products are geared toward women’s health. Mayne Pharma reported total revenue for the acquired portfolio of $111 million for the fiscal year that ended June 30, 2022.

According to the terms of the agreement, DRL will acquire the portfolio for an upfront payment of approximately $90 million in cash, contingent payments of up to $15 million, consideration toward inventory, and credits for certain liabilities will be determined on the closing date.

See also  Restaurants and Pubs Hit by 15% Production in UK

Customary closing conditions, including the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended, must be satisfied before the transaction can close.

DRL’s CEO, Erez Israeli, said that, the United States has always been an important market for them. They are strategically aligned with Mayne Pharma’s product portfolio in order to achieve their growth goals. Some products in the portfolio have a high barrier to entry. By introducing products centered on women’s health, it also adds to their existing product line.

Sandy

Writing is a medium to express feelings and convey facts. A creative mind never rests in peace and this amazing platform gives me the freedom to write about what I like most.

I’ve been a writer/blogger for the last twelve years and have covered technology-related topics. However, I also have considerable years of experience in writing for various domains – Technology, Beauty, Fashion, Pharmaceutical, human psychology etc. Technology is my forte.

See also  VinFast Plans to go Public in the US

I’ve handled many interesting projects. Writing is my passion. As an author, I’ve learned a lot in my long journey of penning down my thoughts!