Dr Reddy’s to buy US generics from Teva

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Dr Reddy’s to buy US generics from Teva

Genéricos/Novedades | Posted 17/06/2016 0 Post your comment

Generics giant Dr Reddy’s Laboratories (Dr Reddy’s) announced on 11 June 2016 that it had made a deal with Teva Pharmaceutical Industries (Teva) and an affiliate of Allergan to acquire a portfolio of eight abbreviated new drug applications (ANDAs) in the US.

The agreement is reported to be costing Dr Reddy’s US$350 million. The deal comes as part of a requirement from US authorities in order to approve Teva’s acquisition of Allergan’s generics business [1]. The acquisition is therefore 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 products being acquired were not divulged. However, they are reported to consist of a mix of filed ANDAs pending approval and an approved ANDA, and are comprised of complex generics across diverse dosage forms.

The products will help Dr Reddy’s ‘create new opportunities for growth’ in the US, according to GV Prasad, Co-Chairman and CEO of Dr Reddy’s Laboratories. The company has over 79 filed ANDAs pending approval, of which it believes 18 have first-to-file status.

Reference
1. GaBI Online - Generics and Biosimilars Initiative. Teva acquires Mexican drugmaker Rimsa [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2016 Jun 17]. Available from: www.gabionline.net/Pharma-News/Teva-acquires-Mexican-drugmaker-Rimsa

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Source: Dr Reddy’s