Dr Reddy’s Laboratories Ltd has completed the previously announced acquisitionof eight Abbreviated New Drug Applications (ANDAs) in the U.S. from Teva Pharmaceutical Industries Ltd and an affiliate of Allergan plc .
The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
In June 2016, Hyderabad-based Dr Reddy’s had entered into a definitive agreement with Teva and an arm of Allergan plc to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for $350 million in cash.
The portfolio being acquired is a mix of six ANDAs pending approval, one approved ANDA and one ANDA with tentative approval,and comprises complex generic products across diverse dosage forms.
The combined sales of the branded versions of the products in the U.S. is approximately $3.5 billion for the most recent twelve months ending in June2016 according to IMS, said a release.
Dr Reddy’s scrip gained 0.75 pc on the Bombay Stock Exchange on Thursday to end at ₹ 2263.90.