Dr Reddys Labs concludes acquisition of Mayne Pharma's US generic prescription product portfolio
Hyderabad: Pharma major, Dr Reddys Labs, has recently announced that the company has completed the acquisition of Mayne Pharma's U.S. generic prescription product portfolio.
The acquisition complements Dr. Reddy’s U.S. retail prescription pharmaceutical business with limited competition products.
Marc Kikuchi, Chief Executive Officer, North America business, Dr. Reddy’s, had said, “This important acquisition provides our North America organization with a significant foothold in the women’s health space. The acquisition is in line with our stated strategy to enhance our portfolio in our chosen growth markets. We are well-positioned to successfully integrate the portfolio and grow the business.”
Erez Israeli, Chief Executive Officer, Dr. Reddy’s, had said, “The U.S. has always been an important market for us. The portfolio of products acquired from Mayne Pharma is a strategic fit with our growth objectives. The portfolio includes some high entry-barrier products. It also complements our existing portfolio by introducing products focused on women’s health. Our strong balance sheet enables us to acquire products of strategic importance to strengthen our base business and build for long-term growth.”
The value of the total addressable market for the pipeline and approved non-marketed products in the U.S. is approximately $3.6 billion (USD) for the calendar year ending in December 2022 according to IQVIA.