Dr Reddy’s Laboratories (DRL) has announced a definitive agreement to purchase the US generic prescription product portfolio of Australia-based Mayne Pharma Group for $90 million upfront and contingent payments of up to $15 million over three years. The total value of the acquisition is estimated to be Rs 738 crore ($90 million) plus Rs 123 crore ($15 million) contingent payments.
DRL Pharmaceuticals announced today that it has completed the acquisition of a portfolio of products from a leading pharmaceutical company. This portfolio includes approved and pipeline products, as well as non-marketed products, which will expand DRL’s US retail prescription pharmaceutical business. According to IQVIA, the total addressable market for these products in the US is estimated to be around $3.6 billion in the calendar year ending December 2022.
Mayne Pharma Group Limited has announced the acquisition of a portfolio of approximately 45 commercial products, four pipeline products, and 40 approved non-marketed products. The portfolio is focused on women’s health and includes a number of generic products. For the financial period ended June 30, 2022, Mayne Pharma reported total revenue of $111 million from the acquired portfolio.
In a recent announcement, DRL has agreed to acquire a portfolio of high-value products, including a hormonal vaginal ring, a birth control pill, and a cardiovascular product, for an approximate total of $90 million in cash. The agreement also includes contingent payments of up to $15 million, consideration towards inventory, and credits for certain accrued channel liabilities to be determined on the closing date.
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