Dr. Reddy’s to buy product portfolio from TEVA for U.S. for $350m
The acquired portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
The acquisition of these ANDAs is also contingent on the closing of the Teva/Allergan generics transaction and approval by the U.S. Federal Trade Commission of Dr. Reddy’s as a buyer.
The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA, and comprised of complex generic products across diverse dosage forms.
The combined sales of the branded versions of the products in the U.S. is approximately $3.5 billion MAT for the most recent twelve months ending in April 2016 according to IMS Health.
Dr. Reddy’s Laboratories is acquiring the portfolio on a cash-free, debt-free basis and expects to finance the transaction using a combination of cash on hand and available borrowings under existing credit facilities. ■