Dr Reddy's to buy Mayne's Rx generics portfolio

Indian generic drug major Dr Reddy's Laboratories (BSE: 500124) saw its shares dip 1.2% to 4,411 rupees, as it revealed it has entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma (ASX: MYX). The latter’s stock was not impacted as the announcement came well after ASX trading had ceased.

The Mayne portfolio includes around 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women’s health.

For the financial period ended June 30, 2022, Mayne Pharma reported total revenue of $111 million (US$) for the acquired portfolio. Approved high-value products include a hormonal vaginal ring, a birth control pill and a cardiovascular product.