Dr Reddy’s to buy Mayne Pharma US generic portfolio at $105 million

28 Feb 2023 , 10:14 AM

Dr Reddy’s has recently entered into a definitive agreement to purchase Mayne Pharma’s US generic prescription product portfolio for $105 million. 

Under the terms of the agreement, Dr. Reddy’s will make an initial payment of $90 million in cash, in addition to contingent payments of up to $15 million, and consideration for inventory and credits for certain channel liabilities that are yet to be determined at the closing date.

Mayne Pharma’s portfolio, which includes around 45 commercial products, four pipeline products, and 40 approved non-marketed products, including several generic products for women’s health, has generated a revenue of $111 million (USD) for the fiscal year ended June 30, 2022.

Dr Reddy’s has identified several high-value products, including a birth control pill, a cardiovascular medication, and a hormonal vaginal ring, among those approved as part of the acquired portfolio. 

The acquisition is expected to offer limited competition products to its US retail prescription pharmaceutical business and further support the company’s mission to provide affordable medications and improve patient access.

At around 10.17 AM, Dr Reddy’s was trading 1.04% lower at Rs4,375.05 per piece, against the previous close of Rs4,421 on NSE. The counter touched an intraday high and low of Rs4,439 and Rs4,372.55 respectively.

For feedback and suggestions, write to us at [e-mail]