Dr Reddy's Laboratories Ltd  on Monday announced that its subsidiary has signed a legally binding contract to acquire for USD 105 million the US generic prescription product portfolio of Australia-based Mayne Pharma Group Limited. 
The acquisition will add goods with little competition to Dr. Reddy's U.S. retail prescription pharmaceutical business. Also, it helps Dr. Reddy's initiatives to speed up and broaden access to patient-affordable pharmaceuticals.

The portfolio consists of about 45 commercial medications, four pipeline products, and 40 authorised but unmarketed products, many of which are generics with a women's health focus "a regulatory document said.
Mayne Pharma announced total revenue of USD 111 million for the acquired portfolio for the fiscal year that ended June 30, 2022. A hormonal vaginal ring, a birth control pill, and a cardiovascular product are among the high-value goods that have been approved.

Dr. Reddy's will purchase the portfolio in accordance with the terms of the agreement for an upfront cash payment of approximately USD 90 million (USD), contingent payments of up to USD 15 million (USD), consideration for inventory, and credits for a number of accrued channel liabilities that will be determined on the closing date. The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended, appropriate waiting period, and other customary closing conditions must all be satisfied before the deal can close.

"This big acquisition gives our North America organisation a strong presence in the women's health industry. The purchase is consistent with our stated goal of expanding our portfolio in our preferred growth markets. We are in a good position to expand the company and properly integrate the portfolio.", said Marc Kikuchi, CEO of Dr. Reddy's North America, 

Dr. Reddy's CEO Erez Israeli stated, "The United States has always been a significant market for us. Our growth goals strategically align with the Mayne Pharma product portfolio that we recently acquired. Several goods with significant entry barriers are part of the portfolio. It also adds goods geared at women's health to our existing range, completing it. Our ability to buy important products to boost our core operations and provide the groundwork for long-term growth is made possible by our solid balance sheet."

According to IQVIA, the total addressable market for authorised but unmarketed products in the pipeline is expected to be worth USD 3.6 billion (USD) in the United States for the calendar year ending in December 2022.

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