Dr. Reddy’s to acquire 8 generics from Teva

HYDERABAD, India and PRINCETON, N.J. — Over the weekend, Dr. Reddy’s Laboratory announced that it would be acquiring a portfolio of abbreviated new drug applications (ANDAs) from Teva. Dr. Reddy’s will pay $350 million in cash at closing. 

 

The eight products, which Teva is divesting to satisfy terms that will allow it to close its acquisition of Allergan’s generics business, consists of complex generic products awaiting approval and some already approved drugs. The acquisition is contingent on the closing of the Teva/Allergan generics transaction. 

 

“This transaction will add strength to our product portfolio, help us be more relevant in our U.S. market and also create new opportunities for growth,” Dr. Reddy’s CEO and co-chairman G.V. Prasad said. 

 

The products Dr. Reddy’s plans to acquire reflect $3.5 billion in combined annual sales, according to IMS Health data for the 12 months ended April 2016.