Dr Reddy's to buy generics portfolio from Teva for US market

13 June 2016

India’s Dr Reddy’s Laboratories (BSE: 500124) has entered into a definitive agreement with Teva Pharmaceutical Industries (NYSE: TEVA) and an affiliate of Allergan (NYSE: AGN) to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the USA for $350 million in cash at closing.

The acquired portfolio consists of eight products that are being divested by Teva as a precondition to its closing of the $4.2 billion acquisition of Allergan’s generics business. 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 one approved ANDA, and comprised of complex generic products across diverse dosage forms. The combined sales of the branded versions of the products in the USA is about $3.5 billion for the most recent 12 months ending in April 2016, according to IMS Health.

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