Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as "Dr. Reddy's") announced today that it has entered into a definitive agreement to acquire a portfolio of 42 approved, non-marketed Abbreviated New Drug Applications (ANDAs) in the U.S.
The portfolio includes more than 30 generic injectable products. These products will require to be technology transferred and could be launched within the next one to two years. The value of total addressable market for these products in the U.S. is approximately $645 million for the calendar year ending in December 2018 according to IQVIA.
Erez Israeli, Chief Operating Officer of Dr. Reddy's Laboratories, commented, "The acquisition is in line with our stated strategy to significantly enhance our portfolio in our chosen growth markets. This transaction will help augment our injectables product portfolio in the U.S. market and globally."
Shares of DR.REDDY's LABORATORIES LTD. was last trading in BSE at Rs.2791 as compared to the previous close of Rs. 2810.2. The total number of shares traded during the day was 16049 in over 981 trades.
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